- The USD/CAD could find initial resistance at the monthly maximum of 1,4543.
- The 14 -day relative force (RSI) index is positioned above 50, supporting a bullish perspective.
- The immediate support is located in the nine -day EMA, around level 1,4401.
The USD/CAD goes back its recent losses, quoting around 1,4440 during the European hours on Wednesday. The technical analysis in the daily chart suggests that the torque is maintained inside an ascending channel pattern, suggesting a bullish bias.
The 14 -day relative force (RSI) index remains above 50, reinforcing a bullish feeling. A continuous descent could further validate the downward bias. In addition, the USD/CAD torque is maintained above the nine -day exponential (EMA) mobile average, indicating a strengthening of short -term prices.
The USD/CAD torque could find initial resistance at the monthly maximum of 1,4543, which was recorded on March 4, followed by the upper limit of the upward channel in 1,4650. A rupture above this level could reinforce the bullish bias and support the torque to explore the region around 1,4793 – the highest level since March 2003, registered on February 3.
Down, the immediate support is in the nine -day EMA at level 1,4401. A rupture below this level could weaken the impulse of short -term prices and exert down the USD/CAD torque to test the 50 -day EMA in 1,4322, closely aligned with the lower limit of the ascending channel.
A greater descent would weaken the bullish bias and lead to the USD/CAD torque to navigate the area around the minimum of three months of 1,4151, last seen on February 14.
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 strongest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.04% | 0.06% | 0.43% | 0.03% | -0.01% | -0.04% | -0.10% | |
| EUR | 0.04% | 0.09% | 0.45% | 0.07% | 0.00% | -0.01% | -0.06% | |
| GBP | -0.06% | -0.09% | 0.36% | -0.02% | -0.07% | -0.10% | -0.15% | |
| JPY | -0.43% | -0.45% | -0.36% | -0.40% | -0.44% | -0.48% | -0.51% | |
| CAD | -0.03% | -0.07% | 0.02% | 0.40% | -0.04% | -0.08% | -0.11% | |
| Aud | 0.00% | -0.01% | 0.07% | 0.44% | 0.04% | -0.02% | -0.09% | |
| NZD | 0.04% | 0.00% | 0.10% | 0.48% | 0.08% | 0.02% | -0.04% | |
| CHF | 0.10% | 0.06% | 0.15% | 0.51% | 0.11% | 0.09% | 0.04% |
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.
