Hits fresh seven-month highs above 1.4100
The post Hits fresh seven-month highs above 1.4100 appeared on BitcoinEthereumNews.com.
USD/CAD continues its winning streak for the fifth consecutive day, trading around 1.4110 during the European hours on Wednesday. The technical analysis of the daily chart indicates a persistent bullish bias, with the pair moving upwards within the ascending channel pattern. Additionally, the short-term price momentum is strengthening as the pair rises above the nine-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI) sits just below the 70 level, reinforcing the bullish bias. Any further gains would push the USD/CAD pair into overbought territory and signal a potential near-term correction. The USD/CAD pair has reached a new seven-month high of 1.4120, earlier during the Asian hours. Further advances would likely explore the area around the upper boundary of the ascending channel at 1.4220. On the downside, the primary support lies at the psychological level of 1.4100, followed by the nine-day EMA of 1.4038. A break below this level would weaken the short-term price momentum and put downward pressure on the USD/CAD pair to test the 50-day EMA at 1.3941, followed by the ascending channel’s lower boundary around 1.3930. USD/CAD: Daily Chart Canadian Dollar Price Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the weakest against the British Pound. USD EUR GBP JPY CAD AUD NZD CHF USD -0.11% -0.22% -0.12% 0.16% -0.08% -0.12% -0.12% EUR 0.11% -0.12% -0.02% 0.26% 0.03% 0.00% -0.01% GBP 0.22% 0.12% 0.10% 0.37% 0.13% 0.10% 0.10% JPY 0.12% 0.02% -0.10% 0.28% 0.04% -0.01% 0.00% CAD -0.16% -0.26% -0.37% -0.28% -0.23% -0.29% -0.28% AUD 0.08% -0.03% -0.13% -0.04% 0.23% -0.04% -0.05% NZD 0.12% -0.00% -0.10% 0.00% 0.29% 0.04% 0.00% CHF 0.12% 0.01% -0.10% -0.00% 0.28% 0.05% -0.00% The heat map shows percentage changes of major currencies against each other. The base currency is…
