In today’s Asian trading session, the US Dollar experienced slight gains against the Canadian Dollar, ascending past the 1.3600 mark. Market participants are closely monitoring Canada as it prepares to release its unemployment figures, which could influence currency movements. On the other hand, the United States has no major economic announcements scheduled for today, potentially limiting fluctuations from the American side. This financial landscape provides a strategic vantage for investors using advanced AI technologies, which have reportedly enabled them to predict market movements effectively, resulting in a 34% return on investment over the last 24 hours. Learn more about how AI forecasted these market trends.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 10/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3729 | Daily R2 |
| Resistance 1 | 1.3709 | Daily R1 |
| Support 1 | 1.3657 | Daily S1 |
| Support 2 | 1.3637 | Daily S2 |
USDCAD Indicator Table – 10/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Buy |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Buy |
USDCAD Indicator / Period Table – 10/05/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Buy | Buy | Buy |
| RSI (14) | Sell | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
USDCAD 10/05/2024 – Reference Price : 1.3684
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (2)Sell (1) |
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