The latest daily technical analysis reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.

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USDCAD

Looking at the 4H USDCAD chart we can see the extending its downtrend for this month as the negative pressure intensifies, without any signs of slowdown as it failed to consolidate at some key support levels of 1.244 and 1.238 the past week. It is down 3% since the start of the month and is currently attempting to consolidate once more at its current price range. Also worth noting is long-term support can be found at the 1.23 price range, which could be an aid for consolidation. It is currently found trading in the 1.233 range with that 1.23 as support and overhead resistance of 1.238.

Today, we could expect a pattern continuation, a further drop near the 1.23 support level or consolidation in the 1.232 price range could also be expected.

If however, shows the ability to hold the current level, we could expect a movement towards the 1.238 resistance level.

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