Forex analytics and overview

USD/CAD Still Fights With 1.3600

2024.08.23 07:13

  • USD/CAD repeatedly tests the 200-day SMA
  • Momentum oscillators are mixed

 has been battling with the 1.3600 round number and the 200-day simple moving average (SMA) over the last couple of days.

A successful break beneath these critical levels could open the way for a downside retracement in the medium-term.

The technical oscillators are showing some contradictory signs. The stochastic is heading upwards after the bullish crossover within the %K and %D lines in the oversold area; however, the RSI is sloping down near the 30 level.USD/CAD-Daily Chart

Steeper decreases could drive the bears to the 1.3480 support ahead of the 1.3450 barricade and 1.3420, taken from the lows between March and April.

A potential rebound off 1.3600 may add optimism to traders increase optimism amongst traders, encouraging them to remain in a neutral-to-bullish mode, hitting the 50- and 20-day SMAs at 1.3710 and 1.3730, respectively.

Moving up, the 1.3790 resistance may again act as a turning point.

All in all, USD/CAD is hovering near key levels, and the next few sessions could clear up the market’s next direction.

 



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,074.99 1.66%
ethereum
Ethereum (ETH) $ 1,893.43 0.90%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.29 2.52%
bnb
BNB (BNB) $ 581.02 0.54%
solana
Solana (SOL) $ 124.76 0.36%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.709859 1.46%
dogecoin
Dogecoin (DOGE) $ 0.168219 0.86%
tron
TRON (TRX) $ 0.223799 0.51%
staked-ether
Lido Staked Ether (STETH) $ 1,889.86 0.76%
pi-network
Pi Network (PI) $ 1.68 1.67%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,806.92 1.75%
leo-token
LEO Token (LEO) $ 9.72 0.34%
chainlink
Chainlink (LINK) $ 13.33 0.79%
stellar
Stellar (XLM) $ 0.272438 2.44%
usds
USDS (USDS) $ 1.00 0.05%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,260.46 1.19%
hedera-hashgraph
Hedera (HBAR) $ 0.188737 3.49%
avalanche-2
Avalanche (AVAX) $ 18.61 0.90%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.63%
the-open-network
Toncoin (TON) $ 2.80 3.07%
sui
Sui (SUI) $ 2.18 3.28%
litecoin
Litecoin (LTC) $ 88.80 1.06%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.88 3.87%
mantra-dao
MANTRA (OM) $ 6.24 3.56%
polkadot
Polkadot (DOT) $ 4.03 1.63%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
weth
WETH (WETH) $ 1,894.47 0.93%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999741 0.03%
bitget-token
Bitget Token (BGB) $ 4.22 0.65%
hyperliquid
Hyperliquid (HYPE) $ 13.32 4.32%
whitebit
WhiteBIT Coin (WBT) $ 28.14 1.46%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,010.89 0.93%
monero
Monero (XMR) $ 207.85 0.25%
uniswap
Uniswap (UNI) $ 5.88 0.68%
susds
sUSDS (SUSDS) $ 1.04 0.05%
near
NEAR Protocol (NEAR) $ 2.63 2.49%
dai
Dai (DAI) $ 0.99982 0.01%
aptos
Aptos (APT) $ 5.13 0.05%
pepe
Pepe (PEPE) $ 0.000007 1.44%
ethereum-classic
Ethereum Classic (ETC) $ 18.17 2.38%
ondo-finance
Ondo (ONDO) $ 0.837382 1.87%
internet-computer
Internet Computer (ICP) $ 5.51 0.06%
okb
OKB (OKB) $ 41.93 0.76%
gatechain-token
Gate (GT) $ 20.51 1.72%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,093.00 1.54%
aave
Aave (AAVE) $ 163.69 5.00%
mantle
Mantle (MNT) $ 0.725955 2.96%
official-trump
Official Trump (TRUMP) $ 11.62 7.62%