EUR/USD 1.16480

USD/JPY 159.146

GBP/USD 1.34455

GBP/JPY 213.985

English
简体中文
繁體中文
Tiếng Việt
ไทย
Indonesia

Subscribe

Real-time News

Sources say Indian Oil Corporation has purchased 2 million barrels of Ecuadorian crude oil from a trader, with delivery scheduled for the end of March.January 14th - According to South Korean sources, in response to North Koreas demand for an apology from South Korea regarding the drone intrusion incident, South Korean Unification Minister Chung Dong-young stated on the 14th that a joint South Korean military and police investigation task force is conducting an investigation, and appropriate measures will be taken once the investigation results are released. Chung Dong-young also expressed his hope to restore inter-Korean communication channels that day. He said, "Exchanging information solely through long-distance conversations is unnatural and abnormal."January 14th - The State Council Information Office will hold a press conference at 3:00 PM on Thursday, January 15th, 2026. Zou Lan, spokesperson and vice governor of the Peoples Bank of China, and Li Bin, spokesperson and vice director of the State Administration of Foreign Exchange, will introduce the achievements of monetary and financial policies in supporting the high-quality development of the real economy and answer questions from reporters.On January 14th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 137,134 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 12,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,840 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 15,640 tons, down 200 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 30,810 tons, up 6,000 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 18,280 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.ECB Governing Council member Kazak: Monetary policy has worked, but its getting a bit boring now.

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