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Crypto Trends

The US dollar/CAD holds firm as mixed cloud trade addresses

  • CAD trading near the 1.3900 area in a short period of time before weekends
  • Contradiction to the addresses of the American -Chinese identification tariffs and flexible prices for morale
  • Resistance is seen at 1.3893 and 1.3986, with support at 1.3855

The pair of the dollar/CAD holds a constant around the 1.3900 region on Friday, where the markets weigh the headlines of the American -Chinese trade and the strong prices in oil against the most stable green back. The US dollar index (DXY) is trading above 99.60, with the support of US President Donald Trump’s comments, indicating that the talks with China are continuing. However, these allegations have been quickly waived by the Chinese Ministry of Foreign Affairs, which said that there are no ongoing negotiations, creating confusion and reducing the upscale follow -up in the US dollar/CAD.

The mood is still fragile as merchants were digested mixed commercial signals. While Trump claimed progress in negotiations with Beijing, China denied firmly any continuous coexistence consultations, while emphasizing that the United States should “stop creating ambiguity”. This contradiction has remained on the appetite of the risks in choosing, as it weighs fair futures in the United States and reduce the last DXY recovery.

Oil prices remain a supportive factor for the Canadian dollar. Brent raw is over $ 68 a barrel after its rise earlier this week, supported by US sanctions on Iranian oil and remember that China may reduce the specific American import tariff. Although the OPEC+ production is expected to increase in May and perhaps June, its pure effect will remain limited if compensated by compensatory cuts, according to commerzbank analysts.

Technical expectations

The dollar/CAD flashes a total declining signal, flattened trading near 1.3900 and uniformity within the within the day from 1.3846 to 1.3893. The RSI is neutrally sits at 36, while the average moving medium rapprochement (MACD) shows a sale signal, hinting to the declining pressure.

Mixed momentum indicators. Both RSI RAM (near 41) and the power of the bull bear (close to 0) indicate frequency, and failed to confirm directional bias. However, the direction tracking signals remain down. Simple moving averages for 20 days, 100 days and 200 days at 1.4017, 1.4270 and 1.4009, respectively, each slope is lower, enhancing the negative tone. Al -Hubudian sermon was also seen for 10 days at 1.3893 and SMA for 10 days at 1.3863.

Support depends on 1.3855, higher than the lowest level this week. The rest below exposes 1.3800 and 1.3745 after that. On the upper side, the resistance was found in 1.3863, 1.3893, and the psychological 1.3986 area. Unless the power of the dollar or oil prices is sharply regained, the bias for the US dollar/CAD remains deviant to the negative side.

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