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 beyond $1.39, nearing the five-month peak of $1.383 reached on April 11, as markets responded to the Bank of Canada’s latest policy move and a weakening U.S. dollar.
The central bank kept its key interest rate unchanged at 2.75%, marking a pause after seven straight cuts totaling 2.25 percentage points. Policymakers pointed to ongoing trade tensions, particularly around U.S. tariffs, as a source of uncertainty.
Depending on how the situation unfolds, the outcome could range from steady economic growth and inflation near target, to a downturn with rising inflation. This cautious approach reinforced confidence in Canada’s policy direction, supporting the loonie, while the U.S. dollar continued to slide amid concerns about possible tariffs on essential minerals and their impact on the American economy.
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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