Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000
USD/CAD Price Long-term Trend: Bearish
USD/CAD pair is presently making an upward move. The price has broken above the 21-day SMA. If it breaks the 50-day SMA and the bullish momentum is sustained, the uptrend will continue. The selling pressure will resume if price fails to break above the SMAs. In previous price actions, the downtrend has been the main trend.
Daily Chart Indicators Reading:
The 50-day and the 21-day SMAs are sloping downward indicating the downtrend. USD/CAD is at level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand.
USD/CAD Medium-term Trend: Bullish
On the 4-hour chart, the pair has been in an upward move. For the past week, the Loonie has been rising on the upside. The pair may face rejection at level 1.2650. On March 19 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USD/CAD will rise to level 1.272 Fibonacci level and reverse.
4-hour Chart Indicators Reading
USD/CAD is trading now in the overbought region above the 80% range of the daily stochastic. Perhaps, sellers may emerge in the overbought region to push prices down. Presently, the SMAs are sloping upward indicating the uptrend.
General Outlook for USD/CAD
Presently, USD/CAD is in an uptrend but the pair is trading in the overbought region of the market. However, the upward move is doubtful as the pair has no room to rally on the upside. The pair may resume its original selling pressure.
You can purchase crypto coins here: Buy Coins
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.