Technical analysis of USDCAD Today I choose USD/CAD for technical analysis because the market is rising and helping the price. The market has reached the trend line, and the price is now down. The market price broke this trend line. The market price found support, from which the price fell back to resistance at 1.4152 and created a new resistance at 1.4096. If the market price declines after being rejected by the trendline, it falls below that level, and the market price returns to the support level and rises again. If the market price is seen on the USD/CAD 1-hour time frame chart, the market price is up. The trend line helps a lot in price increases, but this trend line has been broken.
The market price has broken below the 50-day simple moving average, and the price is touching the 200-day simple moving average. If the market price breaks out of this moving average, the market price will surely return to the support level for some time. Check out the indicators used in the chart: The 50-day simple moving average closed above the market resistance. The 200-day simple moving average is also above the market resistance. If we look at the RSI indicator, the RSI indicator tells us that the market is down. The current RSI indicator values are between 30 and 70 and 31. With the help of technical analysis and market prices and indicators, we know that market prices will move down over some time.
The indicator used in this chart : 50-day simple moving average color Navy: 200-day simple moving average color Chocolate: RSI indicator period 14: 
