Neutral —Price signals suggest some resiliency in the CAD despite all the recent volatility in the market. USDCAD closed little changed on the day yesterday and the “doji” candle signal that formed on the daily chart suggests the USD’s push into the low 1.45 area has stalled (close to where early March USD gains peaked). A look at the intraday chart supports the idea of a short-term USD peak at least, with the USD carving out a bearish outside range around yesterday’s peak on the 6-hour chart. There should be firm resistance now at 1.4525/50 but there may also be a bias towards a modest pickup in the CAD towards support at 1.4400/05. A push below here targets 1.4350/75.
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1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. We provide Free TradingView Premium and Essential Membership.
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. We provide Free TradingView Premium and Essential Membership.
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.