USD/CAD Price Analysis: Reaches higher to near 1.3480 ahead of nine-day EMA

• USD/CAD would possibly perchance perchance take a look at a nine-day EMA of 1.3497 and a psychological level of 1.3500.
• The major level of 1.3450 and the 38.2% Fibonacci retracement level of 1.3442 would possibly perchance perchance act as key improve levels.
• A damage above the 1.3600 level would possibly perchance perchance lead the pair to take a look at March’s high of 1.3605.

USD/CAD retraces its recent losses from the outdated session, edging upwards to end to 1.3480 for the length of Thursday’s European session. The US Dollar (USD) receives improve from increased US Treasury yields, likely influenced by recent info indicating sticky inflation within the United States (US).

The instantaneous resistance is at the nine-day Exponential Intriguing Average (EMA) at 1.3497, coinciding with the psychological level of 1.3500.

A breakout above the psychological level would possibly perchance present upward improve for the USD/CAD pair, with the following resistance at the principle level of 1.3550. Extra upside momentum would possibly perchance perchance goal the assign around the psychological level of 1.3600, aligned with March’s high of 1.3605.

On the downside, the USD/CAD pair would possibly perchance perchance come across vital improve around the principle level of 1.3450, adopted by the 38.2% Fibonacci retracement level at 1.3442. A breach beneath this level would possibly perchance perchance exert downward stress on the pair, potentially main it towards the improve zone end to the outdated week’s low of 1.3419 and the psychological level of 1.3400.

The technical diagnosis indicates blended signals for the USD/CAD pair. The 14-day Relative Strength Index (RSI) is positioned beneath 50, suggesting bearish momentum. On the opposite hand, the Intriguing Average Convergence Divergence (MACD) suggests a attainable momentum shift.

The MACD line is above the centerline, indicating bullish momentum, but there may be divergence beneath the ticket line. Traders would possibly perchance perchance look forward to confirmation from the MACD, a lagging indicator, to resolve the route of the vogue.

USD/CAD: Day-to-day Chart

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