CAD Canadian Dollar – Canadian dollar remains weak as inflation slows slightly

As can be seen from the technical chart, the RSI and stochastic index continue to move upward, and the exchange rate has repeatedly defended the 25-day moving average and the rising trend line in the near future. Therefore, it is estimated that the USD/CAD will continue to rise. The upward resistance is expected to be 1.4330 and 1.45 levels first; the next level refers to the March 2020 highs of 1.4667 and 1.48 levels. The support level will first look back to 1.42, and the key will be 1.4110. This position is the upward trend line extending from September and is also close to the 25-day moving average. In the upward trend in the past two months, several adjustments It can also hold the 25-day moving average and even the 1.40 mark, so be careful that if this area is broken, there will be a chance to reverse the trend of the USD/CAD, and further support will be 1.3920.

Estimated range:
Resistance 1.4330 – 1.4500 – 1.4667 – 1.4800
Support 1.4200 – 1.4110 – 1.4000 – 1.3920

This week's news:
December 16
Canada announces new funding to strengthen border control in response to Trump's tariff threats
Canadian Finance Minister Freeland unexpectedly resigns, citing policy differences with Prime Minister Trudeau

December 17
Canada plans to impose more tariffs on Chinese imports at the start of the new year

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