1.410
Today
+0.01%
5 Days
+1.34%
1 Month
+2.45%
6 Months
+2.77%
Year to Date
+2.75%
1 Year
+2.05%
Opening Price
1.410Previous Closing Price
1.410
The upside prevails as long as 1.4059 is support, with 1.4117 and 1.4133 as targets
below 1.4059, expect 1.4032 and 1.4016.
The upside prevails as long as 1.4059 is support, with 1.4117 and 1.4133 as targets
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar (CAD) is marginally weaker versus the US Dollar (USD), with USD/CAD at its highest since late July. They stress wide yield spreads and typical negative Q4 seasonality as key headwinds for CAD.
USD/CAD extends its advance on Wednesday and trades around 1.4090 at the time of writing, up 0.21% on the day. The pair remains close to its recent highs, supported by a firm US Dollar (USD), while the Canadian Dollar (CAD) struggles to recover losses from the recent decline in Oil prices.
The USD/CAD pair prolongs its weekly uptrend for the third straight day, hitting a fresh high since July 29 during the early part of the European session on Wednesday. Bulls now await a move beyond the 1.4100 round figure before positioning for further gains amid a supportive fundamental backdrop.
The USD/CAD pair attracts buyers for the third straight day and trades around the 1.4070-1.4075 area during the Asian session on Wednesday, near its highest level since July 29, touched the previous day.
USD/CAD gains 0.27% on Tuesday and trades around 1.4070 at the time of writing, supported by weakness in the Canadian Dollar (CAD).
National Bank of Canada's Ethan Currie notes that while oil-driven inflation risks have increased, the Bank of Canada is likely to remain on hold in October as domestic slack and trade uncertainty continue to weigh on the economic outlook.
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.
