FX.co ★ Technical Analysis of Daily Price Movement of USD/CAD Commodity Currency Pairs, Tuesday December 19, 2023.

On the daily chart of USD/CAD commodity currency pairs, this currency seems at the weakness movement where this was confirmed by the price movement which moved within the Bearish Pitchfork channel and was below WMA 30 and the CCI indicator managed to penetrate below its three main important levels (100, 0, -100) and is now stuck at the -100 to 0 area level despite the emergence deviations between price movements and the CCI indicator and at the same time the price movement of The Lonnie is stuck at the lower line of the Bearish Pitchfork. It seems that in the next few days there is potential for a upward correction to level 1.3453 and as long as the strengthening correction does not penetrate above level 1.3514 then USD/ CAD still has the potential to continue weakening again to level 1.3150.

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