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USD/CAD intraday: above its upper Bollinger band

2024-04-18
905

Our pivot point is at 1.3758.

Our preference: the upside prevails as long as 1.3758 is support.

Alternative scenario: below 1.3758, expect 1.3740 and 1.3730.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3759 and 1.3762). Finally, the USD/CAD is trading above its upper Bollinger band (standing at 1.3773).

Supports and resistances:

1.3832 **

1.3822 *

1.3812 **

1.3802

1.3776 last

1.3764

1.3758 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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