USD/CAD Down 19 Pips On Hourly Chart; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated May 13, 2022 1:34 GMT)

At the moment, USDCAD’s rate is down -19 pips (-0.15%) from the hour prior. This is the 2nd hour in a row USDCAD has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDCAD entered today at 1.30454, up 54 pips (0.42%) from yesterday. Relative to other instruments in the Forex asset class, USDCAD ranked 9th yesterday in terms of percentage price change. Let’s take a look at price chart of USDCAD.

USDCAD

USDCAD Technical Analysis

Coming into today USDCAD is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.