USD/CAD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- USD/CAD remains near $1.43750, testing key pivot at $1.43872.
- Immediate resistance at $1.44635 and support at $1.43228.
- RSI at 47 indicates neutral momentum; price action will dictate future direction.
The USD/CAD pair remains under modest downward pressure, trading at $1.43750, a slight decrease of 0.01%.
The key pivot point for this pair is at $1.43872, which will be critical in determining the next move. Immediate resistance is located at $1.44635, with subsequent resistance levels at $1.45197 and $1.45741.
On the downside, immediate support is found at $1.43228, followed by $1.42559 and $1.41957.
The 50-day Exponential Moving Average (EMA) is at $1.43833, very close to the current price, signaling a consolidation phase.
The Relative Strength Index (RSI) at 47 suggests neutral market sentiment, with neither bulls nor bears having a clear advantage.
A sustained break above $1.43872 could push the price toward higher resistance levels, whereas a failure to hold above immediate support at $1.43228 may lead to further declines towards the next key support at $1.42559.
USD/CAD - Trade Ideas
Entry Price – Sell Limit 1.43869
Take Profit – 1.43210
Stop Loss – 1.44354
Risk to Reward – 1: 1.3
Profit & Loss Per Standard Lot = +$659/ -$485
Profit & Loss Per Mini Lot = +$65/ -$48
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