📈 USDCAD Analysis – 1H Chart (June 19, 2025)
The USDCAD is showing signs of bullish exhaustion after a strong rally. The price is currently trading around 1.3710, just below the recent local high at 1.37117.
🔹 Bearish Divergence: Price action is forming higher highs, while RSI is forming lower highs — a classic bearish divergence, hinting at potential downside correction.
🔹 Support Zone: A clear demand zone is marked between 1.35800 - 1.36000, which acted as a breakout base and could serve as strong support if the price pulls back.
🔹 Ichimoku Cloud: Price is still trading above the cloud, indicating an ongoing uptrend. However, a potential retest of the cloud support is possible.
🔹 Dynamic Support: The 21 EMA is holding well, and price is currently retesting it.
🔹 RSI: RSI is above 50 but shows decreasing momentum, currently sitting near 59.26 with signal line crossing above at 64.36, suggesting weakening bullish momentum.
📊 Conclusion: The pair is overextended and showing early signs of reversal or correction. A break below the EMA and into the cloud may lead to a pullback toward the highlighted support zone. Watch price action closely for confirmation.
The USDCAD is showing signs of bullish exhaustion after a strong rally. The price is currently trading around 1.3710, just below the recent local high at 1.37117.
🔹 Bearish Divergence: Price action is forming higher highs, while RSI is forming lower highs — a classic bearish divergence, hinting at potential downside correction.
🔹 Support Zone: A clear demand zone is marked between 1.35800 - 1.36000, which acted as a breakout base and could serve as strong support if the price pulls back.
🔹 Ichimoku Cloud: Price is still trading above the cloud, indicating an ongoing uptrend. However, a potential retest of the cloud support is possible.
🔹 Dynamic Support: The 21 EMA is holding well, and price is currently retesting it.
🔹 RSI: RSI is above 50 but shows decreasing momentum, currently sitting near 59.26 with signal line crossing above at 64.36, suggesting weakening bullish momentum.
📊 Conclusion: The pair is overextended and showing early signs of reversal or correction. A break below the EMA and into the cloud may lead to a pullback toward the highlighted support zone. Watch price action closely for confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.