USDCAD Technical Analysis: Key Resistance Levels and Bank Insights
Understanding the USDCAD Trend
The USDCAD pair is currently facing critical resistance around 1.3595, marked by the 200-day moving average and the May/July range lows. Technical analysis suggests a potential downward push as recent momentum favors the Canadian Dollar.
Insights from Banks and Analysts
Recent forecasts from various banks indicate an increased likelihood of a drop towards 1.3550. This insight is vital for traders looking to position themselves successfully in the evolving market. Market sentiment appears to lean towards bearish for the USD as broader shifts continue to impact currency trading.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.