- The USD/CAD torque could visit the minimum of six months of 1,3781.
- The successful breakdown above the nine -day EMA of 1,3886 would improve the short -term price impulse
- The torque could prove the upper limit of the descending channel about 1,3900.
The USD/CAD gains land for the second consecutive day, quoting around 1,3890 during the European session on Monday. However, the technical analysis in the daily chart indicates a predominant bearish trend, with the torque continuing its downward movement within a clearly defined descending channel.
In addition, the 14 -day relative force (RSI) index remains above level 30, pointing out the potential for a short -term corrective rebound. However, with the RSI still below the 50 threshold, the broader bearish perspective remains intact. However, the USD/CAD torque proves nine -day exponential mobile (EMA), indicating a possible upward change in the short -term impulse.
On the negative side, the USD/CAD torque could return to visit the minimum of six months of 1,3781, finally touched on April 21. A clear rupture below this level would reinforce the bearish bias, potentially leading to the lower limit of the descending channel near the 1,3500 area, with additional support seen around 1,3419 – its lowest point since February 2024.
The successful rupture above the nine -day EMA of 1,3886 would improve the impulse of short -term prices and would take the Usd/CAD torque to test the upper limit of the descending channel about 1,3900. A rupture above this channel would indicate a possible change towards a bullish bias, racing the way for a 50 -day movement in 1,4123. Additional gains could be directed to the next important resistance in 1,4793 – the lowest level observed since April 2003.
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 New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.25% | 0.00% | 0.03% | 0.16% | 0.40% | 0.44% | 0.26% | |
| EUR | -0.25% | -0.31% | -0.20% | -0.11% | 0.05% | 0.18% | -0.01% | |
| GBP | -0.00% | 0.31% | 0.06% | 0.21% | 0.34% | 0.48% | 0.31% | |
| JPY | -0.03% | 0.20% | -0.06% | 0.14% | 0.38% | -1.01% | 0.48% | |
| CAD | -0.16% | 0.11% | -0.21% | -0.14% | 0.11% | 0.27% | 0.11% | |
| Aud | -0.40% | -0.05% | -0.34% | -0.38% | -0.11% | 0.14% | -0.05% | |
| NZD | -0.44% | -0.18% | -0.48% | 1.01% | -0.27% | -0.14% | -0.17% | |
| CHF | -0.26% | 0.01% | -0.31% | -0.48% | -0.11% | 0.05% | 0.17% |
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.
