During the latest trading session in Asia, the US Dollar observed a marginal increase in its value against the Canadian Dollar, with the exchange rate crossing the 1.3600 threshold. This subtle movement in the forex market hints at underlying market sentiments and potential anticipations among investors.

On this day, neither Canada nor the United States are slated to unveil any major economic data, presenting a quiet day on the economic announcements front. This absence of immediate economic indicators may lead market participants to focus more on broader economic trends, geopolitical developments, and upcoming data releases for cues on future currency movements.

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This examination not only sheds light on the current dynamics between the US Dollar and the Canadian Dollar but also emphasizes the transformative role of technology in enriching market analysis and enhancing investor outcomes.

Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 08/04/2024

Time Frame: 1 hour

USDCAD Support & Resistance Table – 08/04/2024

Support & ResistanceLevelExplanation
Resistance 21.3649Daily R2
Resistance 11.3627Daily R1
Support 11.3569Daily S1
Support 21.3547Daily S2

USDCAD Indicator Table – 08/04/2024

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

USDCAD Indicator / Period Table – 08/04/2024

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

USDCAD 08/04/2024 – Reference Price : 1.3601

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0)

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