. Forex USDCAD Pair News & Technical Analysis - 07 April 2023

Forex USDCAD Pair News & Technical Analysis – 07 April 2023

Forex USDCAD Pair News & Technical Analysis – 07 April 2023

07 Apr 2023

USDCAD Technical Analysis: Weekly Chart

In the weekly charts, USDCAD is trading in an up channel. USDCAD is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 1.34000 the resistance level is at 1.40000

USDCAD will trade in an up channel until there is a trend reversal.

USDCAD Technical Analysis: Daily Chart

In the daily charts, USDCAD was trading in a down channel. USDCAD is currently trading below all SMA except MA(20).

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.32000 the resistance level is at 1.35500

USDCAD was traded in a down channel before there is a breakout downside.  

How to Trade USDCAD this Week:

USDCAD will follow the uptrend until its trend reversal. So, remain bullish on USDCAD

TRADE SUGGESTION- BUY AT 1.35034, TAKE PROFIT AT 1.36000, AND STOP LOSS AT 1.34000.