- The USD/CAD can try its initial support in the 50 -day EMA of 1,4306.
- The 14 -day relative force index is slightly below 50, pointing out a bassist perspective.
- The immediate resistance is observed in the nine -day EMA of 1,4371.
The USD/CAD continues its loss streak for the third consecutive day, quoting around 1,4330 during the Asian session on Thursday. The technical analysis in the daily chart suggests that the torque is maintained within a descending channel pattern, reinforcing a bassist perspective.
The 14 -day relative force index (RSI) is located just below 50, indicating a bearish feeling. A continuous descent could further validate the downward bias. In addition, the USD/CAD torque is maintained below the nine -day exponential (EMA) mobile average, pointing out a weaker short -term prices.
The initial support is found in the 50 -day EMA of 1,4306, closely aligned with the psychological level of 1,4300. A decisive rupture below this key support zone could accelerate the bassist impulse, potentially leading to the USD/CAD torque towards the minimum of three months of 1,4151, last seen on February 14.
On the positive side, the USD/CAD faces immediate resistance in the nine -day EMA of 1,4371, followed by the upper limit of the descending channel about 1,4530. A rupture above this channel could weaken the bassist perspective, potentially opening the door to a recovery towards 1,4793 – the highest level since March 2003, registered on February 3.
USD/CAD: Daily graph
Canadian dollar today
The lower table shows the change percentage of the Canadian dollar (CAD) compared to the main currencies today. Canadian dollar was the weakest currency against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.12% | -0.00% | 0.18% | -0.10% | -0.09% | -0.13% | 0.04% | |
| EUR | 0.12% | 0.12% | 0.31% | 0.03% | 0.04% | -0.01% | 0.16% | |
| GBP | 0.00% | -0.12% | 0.21% | -0.10% | -0.08% | -0.12% | 0.04% | |
| JPY | -0.18% | -0.31% | -0.21% | -0.29% | -0.27% | -0.35% | -0.14% | |
| CAD | 0.10% | -0.03% | 0.10% | 0.29% | 0.03% | -0.03% | 0.14% | |
| Aud | 0.09% | -0.04% | 0.08% | 0.27% | -0.03% | -0.05% | 0.12% | |
| NZD | 0.13% | 0.01% | 0.12% | 0.35% | 0.03% | 0.05% | 0.18% | |
| CHF | -0.04% | -0.16% | -0.04% | 0.14% | -0.14% | -0.12% | -0.18% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Canadian dollar of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the CAD (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
