Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/CAD pair has been under bearish pressure after encountering strong resistance near 1.4485, leading to a downward bias.
A close examination of the 4-hour chart reveals emerging negative signals on the Stochastic indicator, along with price stability below 1.4470, reinforcing the possibility of a bearish continuation.
If the bearish trend persists, the pair may target 1.4320 as the first support level. A break below this level could strengthen downside momentum, setting the stage for a test of the official target at 1.4270.
On the other hand, a return to stability above 1.4470 with a confirmed hourly candle close may halt the bearish trend, allowing the pair to regain strength and possibly target 1.4450.
Market Watch & Risk Factors
Risk remains high due to ongoing market uncertainties, making all scenarios possible.
Highly influential U.S. economic data (monthly and annual producer price index reports and weekly jobless claims) will be released today, potentially triggering high market 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.
| S1: |