USD/CAD Price Analysis: Bounces off 200-hour EMA to probe 1.4000

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USD/CAD takes the bids near 1.4000, up 0.05% on a day, during the early Monday’s trading. Despite failing to cross 1.4050 resistance, the pair’s recent bounce from 200-hour EMA keeps buyers hopeful.

That said, bulls may again target 1.4050 resistance while also aiming 61.8% Fibonacci retracement of May 14-19 fall, around 1.4035 as immediate upside barrier.

In a case where the buyers manage to dominate past-1.4050, 1.4100, 1.4120 and May 14 top near 1.4140 could return to the charts.

On the downside, the pair’s break of a 200-hour EMA level of 1.3985 can drag it back to a short-term support line near 1.3930.

Though, 1.3900 round-figure and May 19 low near 1.3870/65 could challenge the bears afterward.

USD/CAD hourly chart

https://editorial.fxstreet.com/miscelaneous/USDCAD_25052020-637259663405172042.png

Trend: Further recovery expected

Additional important levels

Overview
Today last price1.399
Today Daily Change-10 pips
Today Daily Change %-0.07%
Today daily open1.4

 

Trends
Daily SMA201.4011
Daily SMA501.4089
Daily SMA1001.368
Daily SMA2001.3446

 

Levels
Previous Daily High1.4049
Previous Daily Low1.3942
Previous Weekly High1.4114
Previous Weekly Low1.3867
Previous Monthly High1.4299
Previous Monthly Low1.385
Daily Fibonacci 38.2%1.4008
Daily Fibonacci 61.8%1.3982
Daily Pivot Point S11.3944
Daily Pivot Point S21.3889
Daily Pivot Point S31.3837
Daily Pivot Point R11.4052
Daily Pivot Point R21.4104
Daily Pivot Point R31.4159