Bearish
USD/CAD remains below 1.3800 as bearish trend persists
Over the past 24 hours, the USD/CAD currency pair has continued its downward trajectory, trading below the 1.3800 mark. Technical indicators suggest a persistent bearish bias, with the pair operating within a descending channel. The Relative Strength Index (RSI) is near 38, indicating potential for further downside movement.
Key points
- Bearish trend continues: USD/CAD remains below 1.3800, signaling ongoing bearish momentum.
- Technical indicators: The pair is trading within a descending channel, with immediate support at 1.3640 and major support at 1.3481.
- Resistance levels: Key resistance is at the nine-day Exponential Moving Average (EMA) at 1.3819, followed by the 50-day EMA at 1.3918.
Sources
AI-generated from public news sources. Not financial advice.
