CAD/INR Pair Faces Medium-Term Resistance Amid Mixed Technical Outlook
The CAD/INR currency pair is currently trading at ₹68.9205, exhibiting short-term bullish momentum but facing medium-term resistance.
According to technical analysis, the pair is positioned above its 20-day average moving average (MA-20) and 200-day moving average (MA-200), indicating strong short-term strength.
However, it remains below its 50-day average moving average (MA-50), suggesting lingering medium-term resistance.
Momentum indicators are mixed, with the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) pointing to a sell bias, while the Relative Strength Index (RSI), Commodity Channel Index (CCI), and Bull/Bear Power indicate ongoing buy pressure and overbought conditions.
The expected price range for the next trading day is ₹68.5759 to ₹69.2651, with a 71% probability of an upward move if resistance breaks.