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

Dollar - Canadian Dollar Analysis Technical analysis 12/04/2024

Time Frame: 1 hour

USDCAD Support & Resistance Table – 12/04/2024

Support & ResistanceLevelExplanation
Resistance 21.3764Daily R2
Resistance 11.3738Daily R1
Support 11.3672Daily S1
Support 21.3646Daily S2

USDCAD Indicator Table – 12/04/2024

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

USDCAD Indicator / Period Table – 12/04/2024

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

USDCAD 12/04/2024 – Reference Price : 1.3712

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

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