USD/CAD Technical Analysis March 28, 2025
Current Price Levels and Technical Indicators:
As of 12:00 GMT on March 28, 2025, the USD/CAD currency pair is trading around 1.4326. The Relative Strength Index (RSI) is approaching overbought territory, suggesting potential for a pullback. The pair is currently trading above the 50-day Simple Moving Average (SMA), indicating bullish momentum.
Support and Resistance Levels:
Resistance: The immediate resistance level is at 1.4381.
Support: Initial support is found at 1.4322, with a more substantial support level at 1.4238.
Fundamental Factors:
Recent developments influencing the USD/CAD pair include:
U.S. Tariffs: The U.S. administration’s announcement of new tariffs has impacted market sentiment, contributing to USD strength.
Crude Oil Prices: Declining crude oil prices have pressured the Canadian dollar, given Canada’s significant reliance on oil exports.
Economic Data: The U.S. Q4 GDP came in at 2.4%, slightly above the expected 2.3%, supporting the USD.
Conclusion:
The USD/CAD pair is exhibiting bullish momentum, trading above key moving averages and approaching resistance levels. Traders should monitor crude oil price movements and upcoming economic releases to navigate potential market volatility.
EUR/USD Technical Analysis March 28, 2025