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Back Technical analysis
USD/CAD. Analysis and Forecast
The USD/CAD pair is trading below
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The USD/CAD pair is trading below the round level of 1.3900, remaining in a consolidation phase. Technical analysis of the daily chart shows that the RSI—the 14-day Relative Strength Index—is at the 60 level, indicating a bullish trend and the absence of overbought conditions. The RSI remaining above its 50-line prevents deep corrections.The nine-day exponential moving average (EMA) has turned upward and converged with the 50-day EMA, while the price is holding above both moving averages, maintaining an upward bias.
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Irina Yanina,
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