- The USD/CAD could find an initial barrier in the 50 -day EMA of 1,3748.
- The market bias is bullish since the 14 -day RSI is positioned above level 50.
- The main support appears in the nine -day EMA of 1,3688.
The USD/CAD pair remains stronger for the fourth consecutive day, quoting around 1,3720 during the European hours on Wednesday. The technical analysis of the daily graphic suggests a predominant bearish feeling while the pair is consolidated within the descending channel pattern.
However, the 14 -day relative force index (RSI) is positioned above level 50, indicating that a bullish bias is active. In addition, the USD/CAD pair remains above the nine -day EMA, indicating that the short -term impulse is being strengthened.
On the positive side, the USD/CAD torque is prepared to test the immediate barrier in the 50 -day EMA of 1,3748, aligned with the upper limit of the descending channel around 1,3750. A rupture above this area of crucial resistance would improve the impulse of medium -term prices and support the torque to explore the region around three months of 1,4016, which was reached on May 13.
The USD/CAD torque could aim at the main support of nine days of 1,3688. A rupture below this level could weaken the impulse of short -term prices and exert down the torque to test the minimum of nine months of 1,3539, which was recorded on June 16. Additional falls would open the doors for the USD/CAD to approach 1,3419, the lowest since February 2024, followed by the lower limit of the descending channel around 1,3340.
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 euro.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.19% | -0.06% | -0.01% | -0.01% | -0.09% | 0.15% | -0.03% | |
| EUR | 0.19% | 0.14% | 0.16% | 0.16% | 0.04% | 0.29% | 0.17% | |
| GBP | 0.06% | -0.14% | 0.02% | 0.05% | -0.07% | 0.15% | 0.03% | |
| JPY | 0.01% | -0.16% | -0.02% | -0.00% | -0.02% | 0.14% | 0.03% | |
| CAD | 0.01% | -0.16% | -0.05% | 0.00% | -0.09% | 0.06% | -0.02% | |
| Aud | 0.09% | -0.04% | 0.07% | 0.02% | 0.09% | 0.22% | 0.10% | |
| NZD | -0.15% | -0.29% | -0.15% | -0.14% | -0.06% | -0.22% | -0.11% | |
| CHF | 0.03% | -0.17% | -0.03% | -0.03% | 0.02% | -0.10% | 0.11% |
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.
