The USD/CAD pair trades back and forth in a narrow range near the crucial resistance of 1.3800 in the European session.
USD/CAD oscillates inside Wednesday’s range as investors await a speech from Fed Powell. Jerome Powell might emphasize keeping interest rates higher for a longer period. USD/CAD continues to move higher in a Rising Channel chart pattern. The Loonie asset struggles for a direction as investors await the speech from Federal Reserve Chair Jerome Powell.
The 50-day Exponential Moving Average at 1.3660 continues to provide support to the US Dollar bulls. Horizontal resistance is plotted from March 10 high at 1.3682. The Relative Strength Index struggles to shift into the bullish range of 60.00-80.00. If the RSI manages to do so, a bullish momentum would get triggered. Going forward, a decisive break above October 27 high at 1.3880 would expose the round-level resistance at 1.3900, followed by 13 October 2022 high at 1.3978.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
USD/CAD Price Analysis: Rallies to near 1.3750 amid recovery in US DollarThe USD/CAD pair recovered vertically to near 1.3750 as investors cleansed positions from risk-perceived assets and rushed back to the risk-aversion theme.
Lire la suite »
USD/CAD to converge towards 1.42 in the coming monthsThe Canadian Dollar has been treading water since last July.
Lire la suite »
USD/CAD holds steady near weekly top as trader keenly await Fed Chair Powell’s speechThe USD/CAD pair attracts some buyers for the third successive day on Wednesday and trades around the 1.3770-1.3775 area, or the top end of its weekly range during the Asian session.
Lire la suite »
USD/CAD seen peaking at 1.42 in early 2024Growing risks of divergence between the Fed and the BoC bring additional upside risk to USD/CAD in the coming quarters, economists at CIBC Capital Markets report.
Lire la suite »