USD/CAD Is in a Sideways Move, Resumes Uptrend
Login

USD/CAD Is in a Sideways Move, Resumes Uptrend

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

USD/CAD Price Long-term Trend: Ranging
The Loonie is in a sideways move in June and July. The market is fluctuating between levels of 1.3500 and 1.3700. The price is falling after facing rejection at level 1.3600. The current price is falling and approaching the low of 1.3446

USD/CAD – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and the 21-day SMA are sloping sideways indicating the sideways trend. The Loonie has fallen to level 38 of the Relative Strength Index. This indicates that the pair is in the downtrend zone and below the centerline.

USD/CAD Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between levels 1.3500 and 1.3650. The price has fallen to level 1.3446. It is in the oversold region of the market. The Loonie is expected to move up as price is in the oversold region of the market.

USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the SMAs are slowing horizontally indicating the sideways trend. The Loonie is below 20% range of the daily stochastic. It implies that the market is in the oversold region. Buyers are expected to emerge to push prices upward.


General Outlook for USD/CAD
The USD/CAD pair is in a sideways move. The market is currently fluctuating between levels of 1.3500 and 1.3650. The price is falling and approaching the low of 1.3446.


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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News