Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/CAD pair continues to show gradual upward movement, maintaining its recent bullish tone as technical indicators remain supportive of a continuation in the prevailing trend.
Technical Outlook – 4-hour timeframe:
The Relative Strength Index (RSI) continues to provide positive short-term signals, reflecting steady bullish momentum. Meanwhile, the price remains comfortably above the 50-day Simple Moving Average (SMA), which acts as a dynamic support and reinforces the current upside bias.
Probable Scenario:
Stability above the previously breached resistance, now turned into support at 1.3920, keeps the bullish outlook intact. A confirmed breakout above 1.3950 could further strengthen the upward momentum, paving the way toward the 1.3990 resistance, with potential for an extended rise toward 1.4020.
Conversely, a confirmed drop below the 1.3940 support level may trigger renewed selling pressure, driving the pair lower to retest the 1.3900 zone before any potential rebound.
Warning: Market risk remains elevated amid persistent trade and geopolitical tensions. Traders should remain cautious, as sharp volatility remains possible under current conditions.
Trading in CFDs involves risks, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.
| S1: 1.3940 | R1: 1.3990 |
| S2: 1.3905 | R2: 1.4020 |
| S3: 1.3880 | R3: 1.4050 |
