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

Dollar - Canadian Dollar Analysis Technical analysis 05/04/2024

Time Frame: 1 hour

USDCAD Support & Resistance Table – 05/04/2024

Support & ResistanceLevelExplanation
Resistance 21.3606Daily R2
Resistance 11.3589Daily R1
Support 11.3543Daily S1
Support 21.3526Daily S2

USDCAD Indicator Table – 05/04/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Sell
RSI (14)Neutral
Stochastic ( 9;6;3)Neutral

USDCAD Indicator / Period Table – 05/04/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)NeutralNeutralNeutral
SMA 20BuyBuyBuy

USDCAD 05/04/2024 – Reference Price : 1.3564

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (0)Sell (1)

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