In today’s Asian trading session, the US Dollar edged slightly higher against the Canadian Dollar, now positioned above the 1.3700 mark. This minor fluctuation occurs on a day notably quiet on the economic front, with no major announcements scheduled from either Canada or the United States.
While the day lacks significant financial data releases, savvy investors using AI-based investment tools have seen substantial success. Leveraging advanced algorithms, these investors have been able to navigate the market effectively, achieving a remarkable 34% Return on Investment in just the last 24 hours by forecasting market movements with high precision. Learn more about these AI-driven investment successes.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 08/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3803 | Daily R2 |
| Resistance 1 | 1.3781 | Daily R1 |
| Support 1 | 1.3723 | Daily S1 |
| Support 2 | 1.3701 | Daily S2 |
USDCAD Indicator Table – 08/05/2024
| Indicator | Signal |
| SMA 20 | Buy |
| SMA 50 | Buy |
| SMA 100 | Buy |
| MACD( 12;26;9) | Buy |
| RSI (14) | Buy |
| Stochastic ( 9;6;3) | Buy |
USDCAD Indicator / Period Table – 08/05/2024
| Indicator / Period | Day – Buy | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Buy | Buy | Buy |
| SMA 20 | Buy | Buy | Buy |
USDCAD 08/05/2024 – Reference Price : 1.3752
| BUY | Simple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (3)Sell (0) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
