During today’s Asian market session, the US Dollar saw a slight increase against the Canadian Dollar, maintaining a position above the 1.3600 mark. This performance comes at a time when no significant economic announcements are expected from Canada. Similarly, the United States does not have any major economic data releases scheduled for today. This context sets the stage for investors to operate under market conditions that are less influenced by immediate macroeconomic changes. Notably, utilizing advanced AI technology has allowed some investors to effectively navigate these market conditions, successfully forecasting trends and achieving an impressive 34% return on investment in just the last 24 hours. Explore the AI tool here.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 07/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3737 | Daily R2 |
| Resistance 1 | 1.3711 | Daily R1 |
| Support 1 | 1.3647 | Daily S1 |
| Support 2 | 1.3622 | Daily S2 |
USDCAD Indicator Table – 07/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDCAD Indicator / Period Table – 07/05/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
USDCAD 07/05/2024 – Reference Price : 1.3682
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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