In today’s Asian trading session, the US Dollar saw a modest decline against the Canadian Dollar, dipping below the 1.3700 mark. This movement reflects subtle shifts in market dynamics as traders position themselves ahead of important economic announcements.
While Canada has no significant economic data scheduled for release today, all eyes are on the United States, where the Personal Consumption Expenditures (PCE) Index data is due. This indicator is crucial as it helps gauge inflation and could influence the Federal Reserve’s monetary policy decisions.
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Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 26/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3696 | Daily R2 |
| Resistance 1 | 1.3674 | Daily R1 |
| Support 1 | 1.3618 | Daily S1 |
| Support 2 | 1.3596 | Daily S2 |
USDCAD Indicator Table – 26/04/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Sell |
USDCAD Indicator / Period Table – 26/04/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Sell | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
USDCAD 26/04/2024 – Reference Price : 1.3645
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (3) |
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