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2025-07-29 20:59:08
USD/CAD Technical Analysis: The daily chart shows the USD/CAD pair rebounding recently, once again approaching key resistance. The middle Bollinger Bands are at 1.3672, and the exchange rate is currently trading near the upper Bollinger Band, indicating bullish technical momentum. The upper Bollinger Band at 1.3781 has become primary resistance; a break above this level would target the 1.3850 level. Regarding the MACD indicator, the DIFF line is at 0.0004, the DEA is at -0.0007, and the MACD histogram has turned positive at 0.0023, indicating a buildup of short-term bullish momentum. A golden cross has formed, and if this momentum continues, it could propel the exchange rate towards the 1.38 level. The Relative Strength Index (RSI) is currently at 58.54, not yet in overbought territory, but significantly above its previous average, indicating increasing buying momentum. The upward trend in the RSI suggests continued short-term bullish momentum, but caution is advised against potential pullbacks in the 60-65 range. Overall, the exchange rate has been gradually rising recently, currently standing above 1.3750. Upward resistance is concentrated in the 1.3780-1.3850 range. A break above this area would further expand technical upside potential. Downward support is at 1.3730. A break below this level could lead to a return to the middle Bollinger band near 1.3672.
