Today
+0.41%
5 Days
+1.71%
1 Month
-0.02%
6 Months
+4.21%
Year to Date
+3.82%
1 Year
+1.62%
Opening Price
1.419Previous Closing Price
1.419
As long as 1.4216 is support, look for 1.4287
below 1.4216, expect 1.4190 and 1.4175.
As long as 1.4216 is support, look for 1.4287
The Canadian Dollar (CAD) has resumed its downtrend, with the US Dollar (USD) rallying across the board on Wednesday as investors ramp up hopes of Federal Reserve (Fed) tightening in December.
The Canadian Dollar (CAD) continues to under perform the US Dollar (USD) due to multiple headwinds. Lower oil prices due to United States (US)-Iran deal hopes and fresh fears of aggressive Federal Reserve (Fed) monetary tightening have strengthened the USD/CAD pair.
USD/CAD remains stronger for the second successive day, trading around 1.4190 during Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) remains stronger following the latest inflation report, which cemented market expectations for a Federal Reserve rate hike in December.
USD/CAD climbs to its highest level since October 16 on Tuesday as stronger-than-expected US inflation lifts the US Dollar (USD), while falling Oil prices amid hopes for US-Iran diplomacy add further pressure on the Canadian Dollar (CAD).
TD Securities analysts see the Canadian Dollar (CAD) under pressure versus the Dollar, with USD/CAD expected to stay supported around 1.40.
USD/CAD extends its losses for the second successive day, trading around 1.4110 during European hours on Tuesday. The technical analysis of the daily chart shows that the pair price is remaining within the descending channel pattern, signalling an ongoing bearish bias.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
