EUR/USD 1.15402
-0.267%
Gold 4659.21
-1.001%
Oil 103.115
2.376%
USD/JPY 159.726
0.267%
GBP/USD 1.32353
-0.246%
GBP/JPY 211.407
-0.059%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 7th, Futures News reported that soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Monday, with the benchmark contract rising 1.5%, mainly due to active arbitrage trading between soybean oil and soybean meal, and a firm rise in international crude oil futures. A moderate rise in international crude oil futures on Monday, coupled with active oil-meal arbitrage trading, boosted the soybean oil market. Iran rejected the US proposal to immediately reopen the Strait of Hormuz in exchange for a 45-day ceasefire, demanding a permanent ceasefire, the lifting of sanctions, war reparations, and a new arrangement for the governance of the strait. Trump responded that Irans demands were "not good enough, but its an important step forward." Trump also stated that he would not postpone Tuesdays deadline for Iran to open the Strait of Hormuz, otherwise he would launch military strikes against its power plants and bridges.Samsung Electronics opened 4.61% higher after the company projected its first-quarter profit would increase eightfold.Japanese Finance Minister Satsuki Katayama: There is no problem with oil reserves; the problem lies in our ability to support our Southeast Asian partners.Japanese Finance Minister Satsuki Katayama: The amount needed to continue subsidies to control gasoline prices has not yet been estimated.Japanese Finance Minister Satsuki Katayama: G7 finance ministers and central bank governors agree that sharp fluctuations in oil prices are causing high volatility in financial and foreign exchange markets.

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

 image.png


Suggestion