- USD/CAD may test immediate support at a psychological level of 1.4250.
- When the pair returns to a rectangular pattern, the bearish bias may be reduced.
- This pair can approach major resistance at 9 days of EMA of 1.4316.
The USD/CAD pair have continued their winning streak in their third consecutive session, trading around 1.4260 during Asian time on Thursday. Technical analysis of daily charts suggests the possibility of bearish bias when pairs fall below the rectangular pattern.
The USD/CAD pair falls below the 9- and 14-day exponential moving averages (EMA), highlighting bearish feelings and indicating weak short-term price action. This positioning reflects ongoing sales interest, further downside suggests.
Additionally, the 14-day relative strength index (RSI) is below the 50 mark, confirming that bearish outlook is common.
On the downside, the USD/CAD pair was able to find immediate support at a psychological level of 1.4250. A break below this level could lead the pair to explore areas around the psychological level of 1.4200.
USD/CAD pairs can have trouble re-entering rectangles. If that manages to do so, the bearish bias could weaken, driving the pair towards a nine-day EMA at 1.4316 and a 14-day EMA at 1.4336. Breakouts above these levels could bolster short-term momentum and pave the way for testing the rectangular upper boundary at 1.4530.
USD/CAD: Daily Charts
Canadian Dollar Prices Today
The table below shows the rate of change in the Canadian Dollar (CAD) for today's listed major currencies. The Canadian dollar was the weakest against the euro.
| USD | EUR | GBP | JPY | CAD | aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.39% | -0.34% | 0.00% | -0.13% | -0.14% | -0.17% | -0.17% | |
| EUR | 0.39% | 0.04% | 0.40% | 0.26% | 0.20% | 0.22% | 0.22% | |
| GBP | 0.34% | -0.04% | 0.33% | 0.21% | 0.19% | 0.17% | 0.17% | |
| JPY | 0.00% | -0.40% | -0.33% | -0.15% | -0.15% | -0.22% | -0.17% | |
| CAD | 0.13% | -0.26% | -0.21% | 0.15% | -0.01% | -0.04% | -0.04% | |
| aud | 0.14% | -0.20% | -0.19% | 0.15% | 0.00% | -0.03% | -0.02% | |
| NZD | 0.17% | -0.22% | -0.17% | 0.22% | 0.04% | 0.03% | 0.00% | |
| CHF | 0.17% | -0.22% | -0.17% | 0.17% | 0.04% | 0.02% | -0.00% |
The heatmap shows the rate of change of each other's major currencies. The base currency is selected from the left column, and the estimated currency is selected from the top row. For example, if you select Canadian dollars from the left column and move along the horizon to US dollars, the percentage of change shown in the box represents CAD (base)/USD (quotation).
