Русский
USD/CAD pulled back towards the 1.4000 level amid rising demand for commodity-related currencies.
U.S. Dollar Index tests new lows as traders react to inflation data. Inflation Rate declined from 2.8% in February to 2.4% in March, compared to analyst forecast of 2.6%. Tariff worries put additional pressure on the American currency.
U.S. Dollar Index settled below the support at 101.70 – 101.90 and is moving towards the next support at 100.20 – 100.40. RSI is close to the oversold territory, but there is enough room to gain additional downside momentum in the near term.
USD/CAD pulls back as demand for commodity-related currencies is rising despite the strong sell-off in the oil markets.
From the technical point of view, USD/CAD managed to settle below the support at 1.4060 – 1.4080 and is moving towards the next support level, which is located in the 1.3930 – 1.3950 range.
USD/CAD 110425 4h Chart
