Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday April 16, 2025.
On the 4-hour chart, the USD/CAD commodity currency pair can be seen moving below the EMA (100) and the appearance of a Bearish 123 pattern and the position of the Stochastic Oscillator indicator which is already above the Overbought level (80) and has fallen back below that level indicating that Sellers dominate and are moving down towards 1.3828 and if the momentum of weakening and volatility support it, The Lonnie will continue to weaken towards 1.3692. But it should also be noted that the appearance of Divergence between the USD/CAD price movement and the Stochastic Oscillator indicator also gives a warning that there is potential for strengthening, but as long as the strengthening does not break through and close above the 1.4087 level, USD/CAD will continue to weaken.
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