Dollar - Canadian Dollar Analysis

US Session Analysis for CFD Instruments 24/01/2025

Fundamental analysis

24 January, 2025

In European trading, the US Dollar decreased against the Canadian Dollar, trading below 1.4350 levels.

The currency pair declined in the European session after President Trump’s WEF speech appeared to be more conciliatory than previously feared, giving rise to hopes that US tariffs against Canada might still be avoided. In Canada, New Housing price Index data for December (0.2% exp) will be released (13:30 GMT). In the US, Manufacturing PMI (49.8 expected) and Services PMI (56.4 exp) will be posted (14:45 GMT).

Technical analysis

Time Frame: 1 hour

USDCAD Support & Resistance Table - 24/01/2025

Support & Resistance	Level	Explanation
Resistance 2	1.44300	Daily R2
Resistance 1	1.43863	Daily R1
Support 1	1.42695	Daily S1
Support 2	1.42258	Daily S2

USDCAD Indicator Table - 24/01/2025

Indicator	Signal
SMA 20	Sell
SMA 50	Sell
SMA 100	Sell
MACD( 12;26;9)	Sell
RSI (14)	Sell
Stochastic ( 9;6;3)	Sell

USDCAD Indicator / Period Table - 24/01/2025

Indicator / Period	Day - Sell	Week - Sell	Month - Buy
MACD( 12;26;9)	Sell	Buy	Buy
RSI (14)	Sell	Sell	Buy
SMA 20	Sell	Sell	Buy

USDCAD 24/01/2025 - Reference Price : 1.43279

Sell

Simple Moving Average	Buy (0)	Sell (3)
Technical Indicators - Oscillators	Buy (0)	Sell (3)

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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