USD/CAD Technical Analysis April 11, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 11, 2025, the USD/CAD pair is trading around 1.3965, reflecting a 0.33% decrease from the previous day.
Relative Strength Index (RSI): The RSI is approaching oversold levels, suggesting that the pair may be nearing a short-term support zone.
Moving Averages: The pair is trading below both the 50-day and 200-day moving averages, indicating a prevailing bearish trend.
200-Day Moving Average (DMA): The USD/CAD has breached its 200DMA, reinforcing the bearish outlook.
Support and Resistance Levels:
Immediate Support: Support is identified near 1.3900, with further support around 1.3885.
Immediate Resistance: Resistance is observed near 1.4000, with additional resistance levels at 1.4045 and 1.4125.
Fundamental Factors:
Commodity Prices: The Canadian dollar is closely tied to oil prices, given Canada’s significant oil exports. Fluctuations in oil prices can influence the USD/CAD exchange rate.
U.S. Economic Data: Upcoming U.S. economic releases, such as the Producer Price Index (PPI) and Michigan Consumer Sentiment Index, may impact the USD and, consequently, the USD/CAD pair.
Monetary Policy Differentials: The Bank of Canada (BoC) and the Federal Reserve’s monetary policies play a crucial role. Market expectations regarding interest rate decisions can influence the CAD and USD.
Conclusion:
The USD/CAD pair is experiencing bearish momentum, trading below key moving averages and technical levels. Traders should monitor commodity price movements, upcoming U.S. economic data releases, and central bank policy signals for potential impacts on the pair’s direction.
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