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Weekly forecast US Dollar / Canadian Dollar technical chart
Symbol USDCAD

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMarch 25, 2023 - 12:18
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.35223, resumption of uptrend is expected.
  • We make sure when the resistance at 1.39789 breaks.
  • If the support at 1.35223 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 1.38610 on 03/10/2023, so more losses to support(s) 1.36634 and minimum to Major Support (1.35223) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 59.

Supports and Resistances:

  1. 1.46600
  2. 1.40500
  3. 1.36634
  4. 1.29158
  5. 1.28183
  6. 1.27277
  7. 1.24700
  8. 1.23010
  9. 1.22000
  10. 1.20060
Click on the level to view price action history.