USD/CAD Starts Uptrend, Targets Level 1.37500


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

USD/CAD Price Long-term Trend: Bearish
The Loonie selling pressure has been exhausted as the market makes an upward move. A Doji candlestick has appeared in the downtrend indicating that the prior trend is likely to reverse. The pair will rise  and reach a high of 1.37500.

USD/USD – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and the 21-day SMA are sloping downward indicating the bearish trend. The Loonie has fallen to level 45 of the Relative Strength Index. This indicates that the pair is in the downtrend zone and also below the centerline 50.

USD/CAD Medium-term Trend: Bullish
The Loonie is now making an upward move. A correction candlestick tested 0.786 retracement level. It indicates that the pair will rise and reach the high of level 1.272 Fibonacci extension level. This explains that the market will reach a high of 1.37500. Thereafter, the market will fall and return to where it originated.

USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the 21-day SMA and 50-day SMA are slowing downward indicating the downtrend. The Canadian dollar is above 40% range of the daily stochastic. This indicates that the pair is in a bullish momentum.

General Outlook for USD/CAD
The USD/CAD is presently rising to level 1.37500. According to the Fibonacci tool, the market will reach level 1.272 and may reverse. However, the reversal may not be immediate. In the meantime, the price has risen above 1.35854.

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.