USDCAD Technical Analysis – 24th FEB, 2026
USDCAD – On 24th February 2026, USDCAD registered a sharp intraday low at 1.3696
USDCAD Technical Analysis – 24th February 2026
On 24th February 2026, USDCAD registered a sharp intraday low at 1.3696, a level that marked a critical support zone within its medium-term structure.
Daily Chart
The decline into 1.3696 aligned with the 200-day SMA, reinforcing its role as long-term dynamic support. Price action carved out a rejection wick, reflecting strong demand absorption. The RSI dipped toward 44, signaling weakening momentum but not yet oversold, suggesting the move was corrective rather than a structural breakdown.
4-Hour Chart
On the 4H timeframe, the drop into 1.3696 was accompanied by compressed bearish candles, followed by stabilization. The MACD histogram showed diminishing bearish momentum, with signal lines flattening and preparing for convergence. The Stochastic Oscillator had already cycled into oversold territory, supporting the case for a rebound.
Key Levels
• Support: 1.3696 (intraday low, 200-day SMA confluence), 1.3645 (secondary structural base)
• Resistance: 1.3740 (minor supply zone), 1.3800 (psychological barrier, Fibonacci 38.2% retracement of prior decline)
Market Implications
The low at 1.3696 underscored USDCAD’s resilience at medium-term support. Sustained closes above 1.3740 would reinforce bullish continuation toward 1.3800, while a decisive break beneath 1.3696 would expose the pair to deeper downside risks toward 1.3645 and 1.3600.
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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check ...
USDCAD – On 24th February 2026, USDCAD registered a sharp intraday low at 1.3696
USDCAD Technical Analysis – 24th February 2026
On 24th February 2026, USDCAD registered a sharp intraday low at 1.3696, a level that marked a critical support zone within its medium-term structure.
Daily Chart
The decline into 1.3696 aligned with the 200-day SMA, reinforcing its role as long-term dynamic support. Price action carved out a rejection wick, reflecting strong demand absorption. The RSI dipped toward 44, signaling weakening momentum but not yet oversold, suggesting the move was corrective rather than a structural breakdown.
4-Hour Chart
On the 4H timeframe, the drop into 1.3696 was accompanied by compressed bearish candles, followed by stabilization. The MACD histogram showed diminishing bearish momentum, with signal lines flattening and preparing for convergence. The Stochastic Oscillator had already cycled into oversold territory, supporting the case for a rebound.
Key Levels
• Support: 1.3696 (intraday low, 200-day SMA confluence), 1.3645 (secondary structural base)
• Resistance: 1.3740 (minor supply zone), 1.3800 (psychological barrier, Fibonacci 38.2% retracement of prior decline)
Market Implications
The low at 1.3696 underscored USDCAD’s resilience at medium-term support. Sustained closes above 1.3740 would reinforce bullish continuation toward 1.3800, while a decisive break beneath 1.3696 would expose the pair to deeper downside risks toward 1.3645 and 1.3600.
#fxopen #forex #forexanalysis
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check ...