USD/CAD Technical Analysis March 14, 2025
As of March 14, 2025, the USD/CAD currency pair is trading around 1.4425, reflecting a slight decrease of 0.4% from the previous day.
Current Price Levels and Technical Indicators:
The pair is currently experiencing a slight decrease, with technical indicators suggesting a neutral to slightly bearish trend. The Relative Strength Index (RSI) is around 45, indicating neither overbought nor oversold conditions. The 50-day moving average is situated near 1.4400, providing dynamic support.
Support and Resistance Levels:
Key support levels to monitor are:
1.4400: Aligns with the 50-day moving average and has historically acted as support.
1.4300: A significant support zone that could limit downside movement.
On the upside, resistance levels are:
1.4500: A psychological level that has previously capped upward momentum.
1.4600: A higher resistance point that may pose challenges for bulls.
Fundamental Factors:
The Canadian dollar has weakened due to falling oil prices and escalating trade tensions. The Bank of Canada (BoC) recently cut its key policy rate by 25 basis points to 2.75% to counteract potential economic damage from new U.S. tariffs. These tariffs have raised concerns about Canada’s economic outlook, leading to a cautious approach from the BoC regarding future rate changes.
Conclusion:
The USD/CAD pair is currently trading near 1.4425, influenced by recent economic developments and trade tensions. Traders should monitor the support and resistance levels outlined above, as a breakout in either direction could signal the next phase of the pair’s movement. Additionally, staying informed about ongoing trade negotiations and central bank policies will be crucial for anticipating future currency movements.
EUR/USD Technical Analysis March 14, 2025