In last week's webinar I looked at a big spot of support in the US Dollar and that was the same I had looked at the week before, qualifying it as an ‘s3' spot of support. This was also prior resistance in February, before the ascending triangle formation led to bullish breakout and for the past week – that price has been holding the lows in DXY.
USD/CAD Price Forecast: Remains on the defensive as bearish bias persists below 100-day EMA
USD/CAD extends six-day slide as Greenback softens and Canada inflation undershoots
USD/CAD steadies as Middle East war support Dollar, Canada CPI data looms
USD/CAD Price Forecast: Bulls remain on the sidelines as Oil prices rally on Hormuz risks
USD/CAD Price Forecast: Holds recovery move around 1.3700
USD/CAD declines on softer US Dollar as Strait of Hormuz reopens, Canada CPI looms
USD/CAD extends losses to 1.3670 with all eyes on the US-Iran peace talks
Recent sessions have been quite positive for the Canadian dollar in the short term, as USD/CAD has posted a 4-session bearish streak in favor of the Canadian dollar, with a decline of around 1.00% in the short term.
USD/CAD declines as Hormuz disruptions keep Oil elevated, US-Iran talks in focus
USD/CAD has turned sharply lower after failing to sustain gains near recent highs, with the pair now testing a critical support zone. The pullback follows a strong advance but comes amid growing signs of exhaustion, shifting the focus to whether this decline marks a corrective move or the start of a broader reversal.
The US dollar rose a bit in early trading against most currencies, as it was a touch oversold these past few days.