Technical analysis

The US dollar versus the Canadian has been strengthening in the last week trading sessions and reached the resistance of 1.0225. Looking at the chart the upward channel indicates the uptrend of the last week. Today’s candlestick is touching on the upper channel and is above the upper Bollinger Band indicating a strong support at the 1.0225. Additionally, the 1.0225 is the 161.8% of the correction from 1.0052 on April 11th to the 0.9796 on April 30th , a possible correction may be on the way. Finally looking at the indicators, the stochastic oscillator is in the overbought area and the short-term momentum (7) reached extreme levels up and is doing sideways, one could observe that the bullish momentum is getting weaker.

Levels Value
RES 3 1.0917
RES 2 1.0460
RES 1 1.0225
SUP 1 1.0057
SUP 2 0.9963
SUP 3 0.9796


Forex
  Symbol Bid Ask

Metals
  Symbol Bid Ask

CFDs on Stock Indices
  Symbol Bid Ask

Commodities
  Symbol Bid Ask

Interest rates
Country Value
USA 0.25%
Japan 0.10%
Eurozone 1.00%
UK 0.50%
Switzerland 0.25%
Australia 3.75%
Canada 1.0%
Norway 1.5%
New Zealand 2.5%
Sweden 1.5%

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