USD/CAD Fluctuates Between Levels 1.3500 and 1.3700, Uptrend Uncertain

USD/CAD Fluctuates Between Levels 1.3500 and 1.3700, Uptrend Uncertain

Key Resistance Levels: 1.42000, 1.44000, 1.46000
Key Support Levels: 1.34000, 1.32000, 1.30000

USD/CAD Price Long-term Trend: Ranging
The Loonie is in a sideways move in June. The market is fluctuating between levels 1.3500 and 1.3700. The price has risen above the 21-day SMA to move upward. The pair is likely to rise if the 21-day SMA support holds. The USD/CAD will rise and reach  level 1.3700 if the uptrend resumes.

USD/CAD – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and the 21-day SMA are sloping downward indicating the sideways trend. The Loonie has fallen to level 49 of the Relative Strength Index. This indicates that the pair is in the downtrend zone and below the center line 50.

USD/CAD Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between levels 1.3500 and 1.3700. The current upward move is facing resistance at level 1.3650 as market moves downward. The pair will find support above level 1.3550 if the selling pressure persists.

USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the SMAs are sloping horizontally indicating the sideways trend. The Loonie is below 80% range of the daily stochastic. It implies that the market is in a bearish momentum,.


General Outlook for USD/CAD
The USD/CAD pair is in the middle of levels 1.3500 and 1.3700. Presently, the market is in a bearish momentum. However, the price action indicates a bearish signal.



Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results









  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!