USD/CAD Up 8 Pips in Last Hour; Moves Up For the 2nd Straight Day

Hourly Update

(Last Updated September 30, 2021 21:30 GMT)

Currently, USDCAD’s rate is up 8 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 is up 74 pips (0.59%) since the previous day (opening today near 1.27564), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, USDCAD gave its buyers a return that ranked 4th in terms of percentage change since the previous day. The price chart of USDCAD below illustrates.

USDCAD

USDCAD Technical Analysis

Notably, USDCAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 82.4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days USDCAD’s price has gone up 9 them.