USD/CAD edges lower as softer US Dollar, higher Oil bolster Canadian outlook
USD/CAD Price Forecast: Holds above 1.3700 to test nine-day EMA
USD/CAD holds steady ahead of US PMIs amid Middle East tensions
USD/CAD Price Forecast: Hovers near 1.3650 as RSI remains bearish
USD/CAD is under pressure as technical breakdowns reshape the Canadian dollar outlook. Michael Boutros, Senior Technical Strategist at FOREX.com, breaks down the key levels driving the current move, including the significance of the recent support break and the downside targets now in focus.
Mid-Week update for North-American Markets – Traders are remaining extremely positive despite the Ceasefire appearing quite fragile. Taking a close look at NA index and currency performance combined with a USD/CAD intraday chart to spot what's next for American Markets.
USD/CAD hits lows sub-1.3650 with the US-Iran ceasefire on tenterhooks
USD/CAD Price Forecast: Holds above 1.3650 as softer Oil prices counter USD weakness
After a six-session bearish streak, USD/CAD has begun to stabilize around the 1.36500 level, posting a modest gain of approximately 0.1% in the short term.
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