CAD – USD/CAD continues to weaken

As for the trend of USD/CAD, as can be seen from the technical chart, the RSI and stochastic index have fallen sharply, and it is expected that USD/CAD will continue to face downward pressure. The support is forcasted at 1.38, followed by 1.3740 and 1.35 levels. As for the upward resistance level, we will firstly look at 1.40 and 1.4110, and the next level is forcasted to be the 25-day moving average of 1.4270 and 1.4320.

Forecast range:
Resistance 1.4000 – 1.4110 – 1.4270 – 1.4320
Support 1.3800 – 1.3740 – 1.3500

Focus:
Tuesday: Canada March CPI (20:30)
Wednesday: Bank of Canada interest rate decision (21:45)

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