USD/CAD rallies into a key resistance zone near 1.3620–1.3650 amid a broadly stronger U.S. dollar supported by Fed hawkishness and resilient U.S. economic data. Meanwhile, the Canadian dollar faces headwinds from a dovish Bank of Canada stance and subdued labor market signals. Watch energy prices and risk sentiment as critical factors shaping the next move.
USD/CAD is testing key resistance near 1.3760 amid a stronger U.S. dollar and growing uncertainty over the Bank of Canada’s policy outlook. With bullish momentum intact but economic divergences widening, traders watch closely for a breakout or reversal around this critical level. — Rich Dvorak, Forex Factory
USD/CAD is testing key resistance as the U.S. Dollar’s bullish momentum continues to pressure the Canadian Dollar. Diverging central bank policies, weak crude oil support, and technical factors set the stage for a potential breakout or reversal near 1.38. Traders should watch closely for the next directional move. Analysis by Michael Boutros, FOREX.com News & Analysis.
The Canadian dollar is set for a rebound as markets anticipate the U.S. Federal Reserve may begin cutting interest rates later this year. With the Bank of Canada already easing and oil prices stabilizing, the loonie could regain strength against the U.S. dollar through a narrowing interest rate gap and improved sentiment.
USD/CAD is building upside momentum, approaching key resistance at the 200-day moving average near 1.3550. Bullish signals from moving averages and MACD align with a stronger US dollar and weaker oil prices weighing on CAD. Watch for potential tests of the 1.3566–1.3570 zone and 1.3600 psychological level, while support holds near 1.3476 and 1.3435. Market watchers should stay alert to Fed policy cues and oil market dynamics as they could steer the next move.
Original analysis by Greg Michalowski, InvestingLive.
USD/CAD bullish momentum builds as the pair approaches the critical 200-day SMA near 1.4000. Supported by rising US bond yields and weaker oil prices, technical indicators signal a potential breakout. Watch upcoming US and Canadian economic data for near-term direction.
USD/CAD nears key resistance at 1.3960, suggesting a potential double top formation. Overbought RSI and past price action highlight the risk of a bearish reversal if support near 1.3780 breaks. Watch Fed vs. BoC policy divergence and oil prices for broader direction. Stay alert for a possible pullback toward 1.3600 if sellers gain momentum.
USD/CAD edges toward key resistance at 1.3675 amid strong USD momentum and hawkish Fed signals. Technical indicators signal bullish potential for a breakout targeting 1.3750 and beyond, while a rejection could spark a pullback near 1.3600. Stay tuned for pivotal moves shaping the pair’s near-term trend. #Forex #USDCAD #TechnicalAnalysis
The British Pound is gaining ground against the Canadian Dollar as disappointing Canadian PMI data signals slowing business activity, undermining confidence in the CAD. Meanwhile, stronger UK economic fundamentals and steady inflation easing support GBP, pushing GBP/CAD above 1.73. Market watchers will monitor BoE and BoC policies closely for further direction.
GBP/CAD climbs above 1.6550 as UK pound gains strength amid disappointing Canadian PMI data showing manufacturing contraction. Weak oil prices and diverging central bank policies add pressure on the Canadian dollar. Analysts eye further upside for GBP/CAD in coming weeks.
