Intraday analysis covering USDCAD , XAUUSD(the gold) , and USOIL , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. USDCAD remains undecided The Canadian dollar seeks guidance as the recent choppy price action has seen the pair fall away from the 1.4250 peak.
USDCAD(The Canadian Dollar) drops 100 pips USDCAD(The Canadian Dollar) picks up gains against its neighbour as prices look for support. The major support of 1.4200 was easily broken thanks to yesterday's NFP data, with 1.4180 on the horizon.
USD/CAD is testing its first meaningful support since breaking to fresh yearly highs, with the next move likely to shape the.
The US Dollar takes it on the chin after the Non-Farm Payroll announcement.
USD/CAD Price Forecast: Remains in tight range near 1.4200, eyes on US NFP
Over the last few trading sessions, a phase of neutrality has become more evident in USD/CAD. The average move over the last four sessions has barely exceeded 0.15%, reflecting a lack of clear short-term direction.
The UD Dollar continues to be one of the strongest assets in the currency markets.
USD/CAD shows signs of a pullback, AUD/CAD holds above key support, and CAD/JPY rallies on yen weakness despite subdued crude.
The US dollar has been strengthening during the session on Tuesday, as rates are rising in the United States as well.
The USDCAD has been in a strong uptrend since May 1, rallying from 1.35492 to last week's high of 1.42473. That peak was reached on both Wednesday and Thursday, and the inability to push higher triggered a corrective move lower that briefly took the pair back below its 100-hour moving average.
USD/CAD Price Forecast: Holds gains above 1.4200, bullish trend intact despite overbought signals
USD/CAD Price Forecast: Holds losses below 1.4200 within overbought zone