USDCAD - Weekly forecast, Technical Analysis & Trading Ideas

Midterm forecast:

• 1.39318 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  

Technical analysis:

• While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.
  
• A trough is formed in daily chart at 1.34185 on 09/25/2024, so more gains to resistance(s) 1.44670, 1.46000, 1.46900 and more heights is expected.
  

Supports and Resistances:

1. 1.46900
   
2. 1.46000
   
3. 1.38884
   
4. 1.38168
   
5. 1.37487
   
6. 1.36876
   
7. 1.36072
   
8. 1.35404
   
9. 1.34323
   
10. 1.33664
    
11. 1.31816
    
12. 1.30929
    

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