During today’s Asian trading session, the U.S. Dollar experienced a downturn against the Canadian Dollar, falling below the 1.3800 mark. This movement comes at a time when no significant economic announcements are expected from Canada, shifting the market focus towards upcoming economic data from the United States.

The anticipated release of U.S. Retail Sales data is drawing considerable attention. This indicator is a critical measure of consumer spending and can significantly impact currency valuations and broader market sentiments. Investors and traders are keenly awaiting this data, as it could provide insights into the economic health of the U.S. and influence the dollar’s trajectory against global currencies, including the Canadian Dollar.

Amidst these market conditions, an advanced Artificial Intelligence (AI) platform has demonstrated exceptional capability in predicting market trends. Users of this AI system have achieved remarkable success, managing to forecast the market with high accuracy and generating over 34% Return on Investment in just the last 24 hours. This tool has proved invaluable, especially on days filled with crucial economic data releases, by providing investors with the foresight needed to navigate the market effectively.

As the trading day progresses, all eyes will be on the U.S. Retail Sales figures, which are expected to shed light on the economic activities within the U.S. and potentially set the tone for the dollar’s performance in the near term. Investors are advised to stay informed and consider leveraging advanced technologies like AI to enhance their trading strategies during these pivotal moments.

Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 15/04/2024

Time Frame: 1 hour

USDCAD Support & Resistance Table – 15/04/2024

Support & ResistanceLevelExplanation
Resistance 21.3805Daily R2
Resistance 11.3780Daily R1
Support 11.3713Daily S1
Support 21.3688Daily S2

USDCAD Indicator Table – 15/04/2024

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

USDCAD Indicator / Period Table – 15/04/2024

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

USDCAD 15/04/2024 – Reference Price : 1.3750

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (2)

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