FX.co ★ crystal66 | USD/CAD

Good day! Today we have conflicting statistics from the US, but for now, the scales are still tipping in favor of the strength of the US dollar, as the business activity index in the US manufacturing sector has increased, and new home sales for March have also risen. Moreover, these are not the only data being released today, and we are awaiting the crude oil inventory figure, which could possibly determine the movement of the USD/CAD currency pair today. In the meantime, in relation to the Loonie, the US dollar is trying to rise and has already reached the level of 1.3870 today. However, it is still far from changing the four-hour trend to the north, and the USD/CAD pair needs to at least rise and consolidate above the 1.3900 level. We are currently waiting for the achievement and testing of the 1.3900 level, and depending on the results, we will judge further. Currently, the USD/CAD exchange rate is 1.3862, with the pair trading above the 14-period moving average line, but the moving average is decreasing, so it should not be relied upon heavily. The key point is that the USD/CAD pair remains below both bands of the descending trend indicator "2 EMA Color Alerts", so overall, the descending four-hour trend is maintained, and it can be said that there is currently no threat to it.