In today’s Asian trading session, the US Dollar demonstrated a strengthened position against the Canadian Dollar, holding above the 1.3600 threshold. Market watchers are setting their sights on Canada as it prepares to release its Wholesale Sales data, which could provide fresh insights into the economic dynamics of the country. Simultaneously, the United States is on the brink of unveiling its Producer Price Index (PPI) data, a critical economic indicator that could influence future monetary policy decisions.
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Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 14/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3718 | Daily R2 |
| Resistance 1 | 1.3700 | Daily R1 |
| Support 1 | 1.3654 | Daily S1 |
| Support 2 | 1.3637 | Daily S2 |
USDCAD Indicator Table – 14/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Sell |
| Stochastic ( 9;6;3) | Buy |
USDCAD Indicator / Period Table – 14/05/2024
| 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 14/05/2024 – Reference Price : 1.3678
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (1)Sell (2) |
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