Hello traders, Prospects of the currency pair USD/CAD based on technical analysis. The basis of the TA are support and resistance levels, RSI and AO indicators. Let's look at the chart:
Here we have another downward surge, after which we might see a few days of calm trading. The pair slightly rose, missed the target by a bit, and then reversed. As we can see on the chart, the pair tested the level of 1.3940 and is currently trading at a price of 1.3977. Let's examine the indicators. RSI is moving in the middle of the range and hesitantly pointing upwards, AO is showing a weak buy signal, and the price of the USDCAD pair is below the previous day's trading range. The signals are not very strong, but there is a possibility of a slight increase. I assume that the price will test the resistance level of 1.4030. Based on the analysis, cautious buying is recommended up to 1.4025. However, remember that the market can experience sudden changes, so evaluate your risks carefully.
