During today’s Asian trading session, the US Dollar gained strength against the Canadian Dollar, ascending past the 1.3700 threshold. This movement comes on a day marked by a lack of significant economic announcements from both Canada and the United States, providing minimal data-driven influence on the currency pair.
The absence of key economic reports typically leads to quieter trading sessions where historical trends and broader market sentiment may play a more pronounced role. Today’s upward movement of the USD against the CAD reflects subtle shifts in investor expectations and market positioning rather than reactions to fresh economic data.
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Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 12/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3764 | Daily R2 |
| Resistance 1 | 1.3738 | Daily R1 |
| Support 1 | 1.3672 | Daily S1 |
| Support 2 | 1.3646 | Daily S2 |
USDCAD Indicator Table – 12/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDCAD Indicator / Period Table – 12/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Neutral | Neutral |
| SMA 20 | Buy | Buy | Buy |
USDCAD 12/04/2024 – Reference Price : 1.3712
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
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