Bearish
USD/CAD falls to near 1.3850 after breaking below nine-day EMA.
Over the past 24 hours, USD/CAD has declined, trading around 1.3820 during the Asian hours on Thursday. This movement follows a break below the nine-day Exponential Moving Average (EMA), indicating a bearish trend. The Relative Strength Index (RSI) at 40.7 suggests persistent selling pressure.
Key points
- USD/CAD breaks below nine-day EMA, signaling bearish momentum.
- 14-day RSI at 40.7 indicates continued selling pressure.
- Immediate resistance at nine-day EMA around 1.3856.
- Primary support at descending channel bottom near 1.3640.
Sources
AI-generated from public news sources. Not financial advice.
