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:
Today, the pair has slightly declined but has not reached the target and reversed. As we can see on the chart, the pair tested the level of 1.3955 and is currently trading at a price of 1.3948. Let's examine the indicators. RSI is moving in the middle of the range and hesitantly pointing downwards, AO is showing a decent buy signal, and the price of the USDCAD pair is above the previous day's trading range. The signals are not very strong, but there is a possibility of a slight decrease. I assume that the price will test the support level of 1.3905. Based on the analysis, cautious selling is recommended until 1.3910. However, remember that the market can experience sudden changes, so carefully assess your risks.
