CAD – USD/CAD finds support at 1.40

The USD/CAD pair has seen a rebound in its RSI and Stochastic Oscillator, with the price returning above the 200-day moving average. This suggests a potential resurgence in USD/CAD, which has been trading within an upward channel since July. Resistance is expected at 1.4140 and 1.42, with the next level anticipated at the April 1 high of 1.4415 to 1.45. Support is expected at 1.40, followed by 1.3920 and 1.3860, with the next level likely at 1.38.

Technical charts show the RSI and Stochastic Oscillator have rebounded, and the pair has climbed back above its 200-day moving average. This suggests a potential return to an upward trend. Since July, USD/CAD has been trading within an upward channel. Resistance levels are anticipated at 1.4140 and 1.42, with the next level expected to be the April 1 high of 1.4415 to 1.45. Support is expected at 1.40, followed by 1.3920 and 1.3860, with the next level likely at 1.38.

Forecast range:

Resistance: 1.4140 – 1.4200 – 1.4415 – 1.4500

Support: 1.4000 - 1.3920 - 1.3860 – 1.3800

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