USD/CAD: general analysis

Current trend

Yesterday, the USD/CAD pair fell amid a decision by Donald Trump, who suspended the introduction of tariffs on imports from China. The US dollar, in turn, was supported by positive macroeconomic data, in particular, an increase in the consumer price index excluding food products and energy resources by 2.2% YoY and 0.3% MoM.

Today, the dynamics of price can be affected by data from the United States on the change in the import price index at 14:30 (GMT+2), as well as statistics on changes in oil and oil products from the EIA at 16:30 (GMT+2). Low volatility is predicted in the market.

Support and resistance

Resistance levels: 1.3262, 1.3293, 1.3314, 1.3343.

Support levels: 1.3213, 1.3198, 1.3177, 1.3143.

Trading tips

Long positions can be opened from the current level with the target at 1.3290 and stop loss 1.3215.

Short positions can be opened from the level of 1.3200 with the target at 1.3150 and stop loss of 1.3230.

Implementation period: 1–3 days.

Scenario

  • Timeframe

    Intraday

  • Recommendation

    BUY

  • Entry Point

    1.3245

  • Take Profit

    1.3290

  • Stop Loss

    1.3215

  • Key Levels

    1.3143, 1.3177, 1.3198, 1.3213, 1.3262, 1.3293, 1.3314, 1.3343

Alternative scenario

  • Timeframe

    Intraday

  • Recommendation

    SELL STOP

  • Entry Point

    1.3200

  • Take Profit

    1.3150

  • Stop Loss

    1.3230

  • Key Levels

    1.3143, 1.3177, 1.3198, 1.3213, 1.3262, 1.3293, 1.3314, 1.3343