In today’s Asian trading session, the US Dollar witnessed a slight decline against the Canadian Dollar, with the exchange rate dipping below the 1.3500 mark. As the market evaluates this movement, it is important to note that no significant economic announcements are expected from Canada today. However, investors are turning their focus to the United States, where the release of the Consumer Price Index (CPI) data is highly anticipated. This report is crucial as it could influence future monetary policy decisions and consequently affect currency valuations.
Interestingly, advancements in AI technology are redefining how investors approach the market. Those who have embraced this technology, using AI to autonomously predict market trends, have reportedly achieved a remarkable 34% Return on Investment in just the last 24 hours. This seamless integration of technology into trading strategies underscores the potential of AI in enhancing market forecasts and decision-making processes. Learn more about this AI technology.
Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 15/05/2024
| Support & Resistance | Level | Explanation |
| Resistance 2 | 1.3680 | Daily R2 |
| Resistance 1 | 1.3663 | Daily R1 |
| Support 1 | 1.3617 | Daily S1 |
| Support 2 | 1.3600 | Daily S2 |
USDCAD Indicator Table – 15/05/2024
| Indicator | Signal |
| SMA 20 | Sell |
| SMA 50 | Sell |
| SMA 100 | Sell |
| MACD( 12;26;9) | Sell |
| RSI (14) | Neutral |
| Stochastic ( 9;6;3) | Sell |
USDCAD Indicator / Period Table – 15/05/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Buy | Buy |
| SMA 20 | Sell | Buy | Buy |
USDCAD 15/05/2024 – Reference Price : 1.3683
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (2) |
👉Explore AI-powered Automated Trading Today! Register for a free trial now!
✅Read about the automated trading software on Investing.com
