1.394
Today
+0.17%
5 Days
+1.14%
1 Month
+0.50%
6 Months
+1.65%
Year to Date
+1.56%
1 Year
+1.16%
Opening Price
1.391Previous Closing Price
1.391
The upside prevails as long as 1.3893 is support, with 1.3956 and 1.3972 as targets
below 1.3893, expect 1.3866 and 1.3850.
The upside prevails as long as 1.3893 is support, with 1.3956 and 1.3972 as targets
Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD is steady near 1.39 as markets await the Federal Reserve (Fed) and the Bank of Canada’s (BoC) summary of deliberations. They note the BoC is likely to sound more hawkish after firmer inflation data and still-accommodative policy.
The Canadian Dollar (CAD) trades lower against a firm US Dollar (USD) on Wednesday, with the market positioned for a quarter rate hike by the Federal Reserve (Fed), the first one in three years, later in the day.
USD/CAD continues its winning streak for the sixth consecutive day, trading around 1.3930 during European hours on Wednesday. The technical analysis of the daily chart indicates that the price is positioned slightly below the top trendline of an ascending channel, suggesting an ongoing bullish bias.
The USD/CAD pair retains its positive bias for the sixth straight day, trading near the 1.3930 area, a two-week high during the Asian session on Wednesday amid a bullish US Dollar (USD).
USD/CAD extends its advance for a fifth consecutive day on Tuesday, hovering near a two-week high as the US Dollar (USD) stays firmly supported ahead of the Federal Reserve’s (Fed) monetary policy announcement on Wednesday.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar (CAD) is effectively unchanged versus the US Dollar (USD) but outperforming peers, supported by firmer Oil and steady US-Canada front-end spreads.
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.
