CAD – The Canadian dollar remains weak, and  the market continue is expecting a reduction in interest rate next week

interest rates.

The USD/CAD pair has been consolidating in a narrow range around its highs for the past two weeks. The RSI and Stochastics indicators are beginning to decline, and the MACD indicator is even breaking below its signal line, suggesting a short-term downside risk. Support is expected at the 200-day moving average at 1.3960 and 1.3890. The key level is the 50-day moving average at 1.3860. After months of pressure, the exchange rate broke through this level in late July and is now considered a counter-support level. Another key support level is expected to be between 1.3730 and 1.36. Resistance is expected at 1.4080 and 1.42, with the next level expected to be between 1.4415 and 1.45, the highs of April 1.

Estimated Range:
Resistance: 1.4080 – 1.4200 – 1.4415 – 1.4500
Support: 1.3960 – 1.3890 – 1.3860 – 1.3730 – 1.3600
This Week's Headlines:
October 21st
Canadian Prime Minister Carney expressed caution regarding reports of a possible trade deal with the United States.

Canada's annual inflation rate rose to 2.4% in September.

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