During today’s Asian market session, there was a noticeable increase in the US Dollar’s value compared to the Canadian Dollar, with the exchange rate climbing above the 1.3500 threshold. This movement indicates subtle yet significant shifts in currency strength, reflecting broader economic sentiments.
The focus now turns towards Canada as it prepares to release its latest unemployment figures. This data is crucial as it provides insights into the nation’s economic health and labor market conditions. Concurrently, the financial community is also bracing for significant updates from the United States, with the Nonfarm Payrolls and Unemployment Rate figures scheduled for release. These statistics are highly anticipated, given their potential to influence monetary policy decisions and market dynamics.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 05/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3606 | Daily R2 |
| Resistance 1 | 1.3589 | Daily R1 |
| Support 1 | 1.3543 | Daily S1 |
| Support 2 | 1.3526 | Daily S2 |
USDCAD Indicator Table – 05/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Sell |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Neutral |
USDCAD Indicator / Period Table – 05/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| SMA 20 | Buy | Buy | Buy |
USDCAD 05/04/2024 – Reference Price : 1.3564
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (0)Sell (1) |
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