In today’s Asian market session, the US Dollar saw a slight appreciation against the Canadian Dollar, crossing the 1.3600 threshold. This modest upward movement in the USD-CAD exchange rate occurred in a context of minimal economic news releases expected from either country today. The absence of major economic data from Canada and the United States has contributed to subdued trading activity, with investors likely holding their positions while awaiting more significant market catalysts.
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Technical analysis
Time Frame: 1 hour
USDCAD Support & Resistance Table – 17/05/2024
| 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 – 17/05/2024
| 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 – 17/05/2024
| Indicator / Period | Day – Sell | Week – Buy | Month – Buy |
| MACD( 12;26;9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| SMA 20 | Sell | Buy | Buy |
USDCAD 17/05/2024 – Reference Price : 1.3638
| SELL | Simple Moving AverageBuy (0)Sell (3)Technical Indicators – OscillatorsBuy (0)Sell (2) |
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