In today’s Asian trading session, the US Dollar demonstrated strength against the Canadian Dollar, breaching the 1.3600 mark. Investors are closely monitoring significant economic data set to be released later today. Canada is poised to disclose its Gross Domestic Product (GDP) figures, which are keenly awaited for indications of the country’s economic health. Simultaneously, the United States is gearing up to reveal its latest Consumer Confidence data, a key economic indicator that reflects consumer sentiment and spending intentions.
This economic data is crucial as it helps investors gauge the economic trajectory of both nations and strategize their market positions accordingly. Notably, individuals utilizing advanced AI technology for market analysis have been particularly successful, seamlessly navigating market volatility. Remarkably, these AI tools have enabled users to achieve a 34% Return on Investment in the last 24 hours by accurately predicting market movements. For more details on this cutting-edge technology, visit Investing.com.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 30/04/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3737 | Daily R2 |
| Resistance 1 | 1.3718 | Daily R1 |
| Support 1 | 1.3666 | Daily S1 |
| Support 2 | 1.3647 | Daily S2 |
USDCAD Indicator Table – 30/04/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDCAD Indicator / Period Table – 30/04/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USDCAD 30/04/2024 – Reference Price : 1.3694
| BUY | Simple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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