USD/CAD Technical Analysis March 13, 2025
As of March 13, 2025, at the current hour, the USD/CAD currency pair is trading around 1.4366.
Current Price Levels and Technical Indicators:
The USD/CAD pair is currently trading near 1.4366, reflecting a slight decrease of 0.04% from the previous session. Technical indicators suggest that the pair remains in an upward trend, with the potential for a continuation towards higher levels. The Relative Strength Index (RSI) is hovering near 60, suggesting neutral to slightly bullish momentum. The Moving Average Convergence Divergence (MACD) is showing positive momentum, which supports further bullish price action.
Support and Resistance Levels:
Immediate support for USD/CAD is observed at 1.4350, with a break below this level potentially triggering further downside. On the upside, resistance is identified at 1.45, a key level that has been difficult for the pair to surpass. If the pair breaks above this resistance, it could open the door for further gains toward 1.4550.
Fundamental Factors:
The U.S. dollar has experienced modest gains against the Canadian dollar, supported by the rise in U.S. Treasury yields and ongoing concerns over global trade tensions and inflation. The Canadian dollar has been impacted by the Bank of Canada’s cautious stance on interest rates, reflecting global economic uncertainties. Additionally, concerns over oil prices, which play a critical role in Canada’s economy, could continue to influence the CAD’s performance.
Conclusion:
The USD/CAD pair is currently in a bullish phase, but resistance at 1.45 could limit further upside unless there are strong catalysts. Traders should closely monitor support and resistance levels, and be aware of economic developments that could impact the pair. As the market remains volatile, staying updated on upcoming economic data is essential for making informed trading decisions.
EUR/USD Technical Analysis March 13, 2025