USD/CAD analysis by the Mallicast teamThe Mallicast team's analysis for the USD/CAD currency pair is as follows: Currently, this pair is in a downtrend with low momentum. This decline in price might indicate a relative weakness of the US dollar against the Canadian dollar, which could be due to various economic factors such as a decrease in interest rates, weak economic data, or an increase in demand for commodities and energy (which supports the Canadian dollar).
It is anticipated that within this downtrend, the price will reach the level of 1.34221, experiencing a short correction. This correction might occur due to short-term profit-taking by traders or as a reaction to different economic data. However, following this correction, the uptrend is expected to resume, pushing the price to the level of 1.35872. This upward movement could result from improving economic conditions in the United States or a temporary weakening of the Canadian dollar. Finally, the analysis suggests that the price could rise to the level of 1.37149, which is considered the final target price. This price level might be influenced by changes in monetary policies, fluctuations in global markets, or changes in oil prices, which significantly impact the Canadian economy.
