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Strong Canadian jobs data boosts the Canadian dollar, pushing USDCAD below key moving averages. This may prompt renewed Bank of Canada tightening, increasing bearish pressure on the USD against CAD i…
USDCAD declined below key support at 1.4000 and the 61.8% retracement, now trading in a buyer-support swing area around 1.3970, hinting a possible low but maintaining a bearish bias for now.
USDCAD holds above key 38.2% retracement and swing support, maintaining short-term bullish bias but faces strong resistance near 1.4150–1.4183.
USDCAD fluctuated around its 200-day moving average, with buyers defending support at the 100-hour MA, indicating potential upward momentum toward key targets near 1.3985 and 1.4017 in the short term.
USDCAD pulled back after Canadian GDP rose in July, strengthening the CAD. Price retraced to the 38.2% level at 1.39235; buyers remain favored while the 200-day MA at 1.39729 holds as key resistance.
BoC cut rates 25bp; USDCAD rose above the 100-day MA to 1.3769 then faded below to 1.3758 into a swing zone. Breaks target 1.3738/1.3721; reclaiming the MA could test 1.3802.
Weaker US and Canadian jobs lifted expectations of Fed and BoC rate cuts. USDCAD holds above key 4H 100/200-bar moving averages with modest upside bias, trading between 1.38176 support and 1.38917–1.…
USD weakness after soft US NFP and dovish Fed bets pressured markets while weak Canadian jobs added volatility; technicals show a potential head-and-shoulders with a 1.3720 neckline, targeting 1.3550…