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.

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Technical analysis

Dollar - Canadian Dollar Analysis Technical analysis 15/05/2024

Time Frame: 1 hour

USDCAD Support & Resistance Table – 15/05/2024

Support & ResistanceLevelExplanation
Resistance 21.3680Daily R2
Resistance 11.3663Daily R1
Support 11.3617Daily S1
Support 21.3600Daily S2

USDCAD Indicator Table – 15/05/2024

SMA 20Sell
SMA 50Sell
SMA 100Sell
MACD( 12;26;9)Sell
RSI (14)Neutral
Stochastic ( 9;6;3)Sell

USDCAD Indicator / Period Table – 15/05/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)NeutralBuyBuy
SMA 20SellBuyBuy

USDCAD 15/05/2024 – Reference Price : 1.3683

SELLSimple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (2)

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