**USD/CAD Technical Analysis Report – November 4, 2025**
*Originally reported by FinanceFeeds. Expanded analysis provided with additional insights.*
The USD/CAD currency pair exhibited a notable movement during the early November 2025 trading sessions. As per the original analysis shared by FinanceFeeds, the pair has been trading within a relatively defined technical range, influenced by macroeconomic indicators from both the United States and Canada, alongside global crude oil prices, which significantly impact the Canadian dollar. This extended analysis will dive deeper into the technical patterns, fundamental drivers, and forward-looking market expectations for the USD/CAD pair.
### Summary of Recent Price Action
Over the past few sessions leading up to November 4, 2025, USD/CAD has displayed a bullish tilt, recovering from recent lows and moving toward critical resistance levels. The price action shows willingness from bulls to reclaim higher levels, signifying a possible trend reversal or at least a consolidation above support zones.
– **Current Price Range**: The pair is trading near the 1.3800 psychological handle.
– **Short-Term Trend**: Bullish, with higher lows forming over successive sessions.
– **High & Low in Prior Week**: High near 1.3830; Low at approximately 1.3620.
### Technical Indicators and Chart Patterns
The technical framework presents several signals to traders:
**1. Moving Averages:**
– The 50-day Simple Moving Average (SMA) is currently providing dynamic support around the 1.3690 zone.
– The 100-day SMA has turned upward, signaling a continuation of upward momentum.
– The 200-day SMA is trending below the current price, validating the bullish longer-term bias.
**2. Fibonacci Retracement Levels:**
– The pair recently bounced from the 50% Fibonacci retracement level, drawn from the September high near 1.3900 to the October low at 1.3620.
– The 61.8% level, located around 1.3800, is acting as a temporary resistance.
**3. RSI and Momentum:**
– Relative Strength Index (RSI) on the daily chart is sitting near 60, indicating moderate upward momentum without reaching overbought conditions.
– Momentum indicators suggest renewed buying interest, especially if the RSI crosses the threshold of 70 in upcoming sessions.
**4. Price Action Candlestick Patterns:**
– A bullish engulfing pattern formed on the daily chart near the 1.3700 mark last week, which provides confirmation for continued upside.
– However, a doji candle near current resistance signals hesitation at the 1.3800 level.
### Key Support and Resistance Levels
Understanding critical price zones is essential for positioning.
**Support Zones:**
– 1.3690: Marked by 50-day SMA.
– 1.3620: October low; served as a strong bounce area.
– 1.3500: Psychological level and historical pivot zone.
**Resistance Zones:**
– 1.3800: 61.8% Fibonacci level and prior swing high.
– 1.3830: Local top observed in late September.
– 1.3900: Multi-month high; a breakout beyond this may trigger additional buying.
### Fundamental Factors Influencing USD/CAD
While technicals provide potential entry and exit signals, understanding the macroeconomic backdrop is essential for a holistic trading view.
**1. Crude Oil Prices:**
– Canada, being a major oil exporter, sees its currency react closely to oil market fluctuations.
– West Texas Intermediate (WTI) crude oil is currently trading around $82 per barrel.
– A drop in oil prices due to weak global demand has led to pressure on the Canadian dollar, supporting USD/CAD’s upward movement.
**2. US Dollar Index (DXY):**
– The US Dollar has found strength from hawkish central bank sentiment.
– The DXY currently trades above
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