This USDCAD analysis reviews the currency pair from technical and fundamental aspects. It also features trend examination, price forecasts, support and resistance levels, and trading signals.
We update this page daily to ensure you have the latest information by covering the price changes.
USDCAD Analysis & Live Chart
USDCAD Fundamental Analysis
Bloomberg—The Canadian dollar climbed above 1.38 in April, reaching its highest level in six months. This rise came as markets reacted to the Bank of Canada’s decision to keep interest rates steady at 2.75%, amid uncertainty around future U.S. tariffs. The bank warned that stable inflation near 2% could continue if trade tensions ease, but a surge in tariffs might spark both inflation and recession.
Meanwhile, China slashed U.S. oil imports by 90%, shifting much of its demand to Canadian crude delivered through the newly launched Alberta–Vancouver pipeline, boosting Canada’s oil exports.
At the same time, the U.S. dollar weakened sharply to levels not seen since early 2022, as investor confidence in U.S. monetary policy wavered. The shift followed political pressure on the Federal Reserve, including calls from President Trump for immediate rate cuts and public suggestions to replace Fed Chair Powell, raising concerns about central bank independence.
USDCAD Technical Analysis
FenzoFx—The USD/CAD currency pair is testing the support level at 1.3831 in today’s trading session. The robust selling pressure resulted in the Stochastic Oscillator stepping below the 20 line, indicating that the Canadian dollar is overpriced against the U.S. dollar. Therefore, the currency pair could experience a consolidation phase toward higher resistance levels.
Please note that joining a bear market saturated with sellers is not recommended. Hence, we advise traders and investors to wait patiently for the USD/CAD price to test the 1.4025 resistance. This level can provide a favorable entry point into the bear market.
The Bullish Scenario
The bearish outlook remains valid below 1.4025. If the price exceeds this level, the downtrend should be invalidated. In this scenario, USD/CAD could rise toward the 1.4143 resistance.
USDCAD Support and Resistance Level
| Support | 1.3831 | 1.3648 | 1.3424 |
| Resistance | 1.4025 | 1.4143 | 1.4297 |
Market Trends Through Technical Indicators
The widget below calculates market USD/CAD trends using multiple indicators, such as moving averages and oscillators. It allows you to review market trends across various timeframes easily.
The larger the timeframe, the more accurate the signals tend to be. Integrating this widget into your strategy and considering our fundamental news can help you make well-informed decisions.
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