EUR/USD 1.14874
0.210%
Gold 4364.14
2.350%
Oil 94.980
-2.565%
USD/JPY 155.570
-0.452%
GBP/USD 1.33860
0.046%
GBP/JPY 208.254
-0.403%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the statement, the U.S. Department of Defense signed a framework agreement with Lockheed Martin to increase production of the AIM-260 Joint Advanced Tactical Missile and expand foreign military sales.British Prime Minister Burnham: Britain must go all out to achieve net-zero emissions by 2050.On September 17th, the Ministry of Transport held a plenary meeting of its Safety Committee and a video conference on transportation safety during the Mid-Autumn Festival and National Day holidays and the fourth quarter. The meeting emphasized the need to make every effort to ensure safety in the industry during the fourth quarter. It stressed the importance of proactively preventing severe weather events, focusing on heavy rainfall, autumn typhoons, cold waves, strong winds, and low-temperature rain, snow, and freezing disasters, and strictly implementing all proactive prevention measures. The meeting also emphasized strengthening safety supervision in key areas, conducting concentrated crackdowns on illegal road passenger transport operations, and ensuring collision prevention for commercial and fishing vessels. It called for the comprehensive completion of this years special campaign to address outstanding issues and for early planning for next years campaign. The meeting further emphasized the need to effectively ensure safety and service guarantees during the Mid-Autumn Festival and National Day holidays. This includes: 1) Effective consultation and assessment; 2) Effective safety control; and 3) Effective service guarantees. This includes implementing tailored measures for each road segment to ensure smooth traffic flow, strengthening charging services in each area, organizing and guaranteeing large passenger flows, and actively conducting live road network updates to guide the public in making reasonable travel arrangements.Shares of Lucid Group (LCID.O) rose 6.1% in pre-market trading after announcing a partnership with Bolt.Lucid Group (LCID.O) is partnering with Bolt to develop and deploy autonomous mobility services.

USD/CAD Bears Anticipate Additional Losses Towards $1.34

Alina Haynes

Apr 13, 2023 14:22

 USD:CAD.png

 

Following a three-day losing trend, the USD/CAD continues to trade near the weekly low around 1.3440 in the early hours of Thursday.

 

In doing so, the Loonie pair justifies yesterday's pullback from the 61.8% Fibonacci retracement of the February-March uptrend, as well as yesterday's retreat from the 100-bar Exponential Moving Average (EMA), in conjunction with negative MACD signals.

 

Notably, the RSI (14) line is approaching the oversold region, indicating the USD/CAD exchange rate has limited downside potential.

 

Consequently, a horizontal area containing multiple lows marked since March 3 around 1.3400 becomes the most crucial support for pair traders to track. In addition, the 78.6% Fibonacci retracement level encircling 1.3390 provides immediate support.

 

A irregular decline towards February's low of 1.3262 cannot be ruled out if the USD/CAD defies RSI conditions and descends below 1.3390.

 

In contrast, the 61.8% Fibonacci retracement level around 1.3490, also known as the golden Fibonacci ratio, restricts immediate USD/CAD recovery movements prior to the 1.3535 100-exponential moving average (EMA) barrier.

 

If the USD/CAD exchange rate remains firmer than 1.3535, a convergence of the 200-exponential moving average (EMA) and 50% Fibonacci retracement around 1.3565 will pose a formidable obstacle for buyers.

 

At the time of publication, USD/CAD investors should remain cautious unless they observe a clear break above the previous support line from early February, which was near 1.3670.


Suggestion