USD/CAD retraces its recent losses, trading around 1.3670 during the early European hours on Friday.
USD/CAD move sideways within a horizontal channel pattern. The technical indicator MACD suggests an emergence of a bullish bias. The psychological level of 1.3700 appears as the key resistance level. Analysis of the daily chart suggests a sideways direction for the USD/CAD pair, as it remains within a horizontal channel pattern. However, the momentum indicator 14-day Relative Strength Index is positioned at the 50 level, and further movement may indicate a clear direction.
3720, followed by the pullback resistance at 1.3740. A surpassing of the latter could lead the USD/CAD pair to explore the region around the key level of 1.3800, followed by April’s high of 1.3846. On the downside, the USD/CAD pair could find key support around the lower threshold of the horizontal channel around the psychological level of 1.3600, aligned with the throwback support at 1.3590. USD/CAD: Daily Chart USD/CAD Overview Today last price 1.3672 Today Daily Change 0.
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