USD/CAD cuts intraday gains, trading near 1.3690 during the European session ahead of Canada’s Retail Sales release on Friday. Investors are betting on the likelihood of no further interest rate hikes by the Federal Reserve (Fed), potentially weakening the USD/CAD pair.The technical indicators for the USD/CAD pair support the current downward trend. The Moving Average Convergence Divergence (MACD) line is below the centerline and the signal line, indicating a bearish momentum in the pair.Furthermore, the 14-day Relative Strength Index (RSI) below 50 indicates bearish sentiment, indicating that the pair could meet the major support level at 1.3650 aligned with the 50.0% retracement level at 1.3639.A firm break below the latter could influence the bears of the USD/CAD pair to navigate the support region around 1.3600.On the upside, if the USD/CAD pair surpasses the psychological barrier of 1.3700, it could test the 21-day Exponential Moving Average (EMA) at the 1.3724 level followed by the 1.3750 major level. A breakthrough above the level could open the doors for the pair to explore the region around the 1.3800 level. USD/CAD: Daily Chart  USD/CAD: OTHER TECHNICAL LEVELS TO WATCH

OVERVIEW Today last price 1.3687 Today Daily Change -0.0009 Today Daily Change % -0.07 Today daily open 1.3696

 

TRENDS Daily SMA20 1.3758 Daily SMA50 1.3673 Daily SMA100 1.3541 Daily SMA200 1.3516

 

LEVELS Previous Daily High 1.3711 Previous Daily Low 1.3651 Previous Weekly High 1.3844 Previous Weekly Low 1.3655 Previous Monthly High 1.3892 Previous Monthly Low 1.3562 Daily Fibonacci 38.2% 1.3688 Daily Fibonacci 61.8% 1.3674 Daily Pivot Point S1 1.3661 Daily Pivot Point S2 1.3626 Daily Pivot Point S3 1.3601 Daily Pivot Point R1 1.3721 Daily Pivot Point R2 1.3746 Daily Pivot Point R3 1.3781

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