FX.co ★ USD/CAD

USDCAD For the Canadian dollar, we are now seeing a gradual strengthening, supported by some weakening of the US dollar and expectations regarding the Fed’s future policy. Therefore, for the USDCAD pair I maintain a priority for further decline, first to the initial target of 1.38970, and then to 1.38420, which corresponds to the average weekly volatility being worked out. For me, selling remains relevant in the 1.39320–1.39565 range, where one can look for an entry point. At the same time, a strong upward move and a daily candle close above 1.40082 would be needed to reverse the current trend. As long as this has not happened, the priority remains on a decline in the pair.