Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/CAD pair exhibited cautious bullish behavior yesterday, aligning with the expected upward scenario and reaching a high near the key resistance level of 1.3760.
From a technical standpoint today, the 240-minute chart reveals continued support from the simple moving averages, which are reinforcing the bullish sentiment. Additionally, the Relative Strength Index (RSI) is attempting to generate positive momentum signals, suggesting the pair may continue its upward correction.
As long as daily trading holds above 1.3700, a confirmed break above 1.3760 could act as a catalyst for further gains, potentially pushing the pair toward the next resistance target at 1.3800.
Warning: The release of critical U.S. economic data today—including the final GDP figures and weekly jobless claims—could lead to heightened market volatility.
Warning: Risk is elevated amid persistent trade and geopolitical tensions, making multiple scenarios plausible.
Risk Disclaimer: Amid global economic uncertainties and trade tensions, risk levels remain high. Traders should proceed with caution and be prepared for a range of market scenarios.
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