Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The bullish trend has regained control of the Canadian dollar, halting the bearish corrective move noted in our previous report after establishing support near 1.4350.
On the 4‑hour chart, the pair has moved above its simple moving averages, and the 14‑day momentum indicator is now showing positive signals. With these technical cues, there is potential for further gains during the current session. A confirmed breach of 1.4470 could pave the way for a move toward 1.4500, and a subsequent break might propel the pair toward 1.4540.
However, if trading falls back below 1.4380 with an hourly close, the pair may experience temporary negative pressure, with a target around 1.4310.
Alert: Today, we are expecting high-impact US economic data on Job Vacancies and Labor Turnover Rate (JOLTS), which could trigger significant volatility.
Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Trading foreign exchange involves risk, and traders should always conduct their own research and exercise caution.
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