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Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Tuesday May 20, 2025.
Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Tuesday May 20, 2025.
Technical analysis
2025-05-20 06:19:43
If we look at the 4-hour chart of the USD/CAD commodity currency pair, it appears that there is a Divergence between its price movement and the Stochastic Oscillator indicator, so that even though The Lonnie is currently still in a ranging/sideways condition, where this is indicated by the WMA (21) moving in the middle of the candlestick of this currency pair, with a flat slope condition, so that in the near future as long as there is no correction of the weakening USD/CAD that breaks through and closes below that level, then 1.3896 has the potential to strengthen upwards, where the 1.4015 level will try to be broken and close above it. If it is successful, then USD/CAD will continue to strengthen to the 1.4042 level as its main target, and if the volatility and momentum of its strengthening support it, then it is not impossible that the 1.4091 level will be the next target to be aimed for.
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