USD/CAD remains near the top of its range, with 1.3750 as the key breakout level and 1.39 the next upside target if dollar strength continues.
Technical Analysis
USD/CAD refers to the US Dollar/Canadian Dollar currency pair and it shows how many CAD can be purchased for one USD....
Informally, the CAD is known as the Loonie, because of the loon bird which appears on one side of the Canadian $1 coin. USD/CAD is one of the most liquid, commonly traded major currency pairs, which means narrow spreads for traders. There are a variety of factors influencing the value of USD/CAD. One of the most significant of these is that the CAD is a commodity currency, meaning that its value is closely correlated to the value of a heavily traded commodity. The Canadian economy is strongly reliant on crude oil exports, so the currency will be impacted by oil prices and export capacity. In addition, the value of both currencies in the USD/CAD pair are influenced by the interest rate differential between the American Federal Reserve and the Bank of Canada. For example, an intervention by the Fed that strengthened the US dollar would weaken the Canadian dollar since more CAD would be required to buy a single USD dollar. It is also important to note that the Canadian dollar is one of the five major reserve currencies, meaning that many central banks and other leading financial institutions hold large amounts of CAD to use for international transactions as a way to minimize exposure to exchange rate risks.
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USD/CAD rallied as broader risk-off flows outweighed oil strength, keeping the pair in its familiar 1.35 to 1.3750 consolidation range.
Technical Analysis
USD/CAD is struggling to clear the 1.37–1.3750 resistance zone, with a breakout targeting the 200-day EMA near 1.3832 while 1.3550 and 1.35 mark key support below.
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The US dollar has been all over the place against the Canadian dollar during trading on Thursday, but still remains in the same range we have been in.
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The US dollar rallied a bit against the Canadian dollar on Wednesday as traders are buying back their short positions, despite oil strength.
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The US dollar rallied slightly against the Loonie as we see a major bottom tested near the 1.35 level. At this point, the markets are trying to continue to hold onto the range that we have been in lately.
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US dollar plunged against the Canadian dollar again on Monday as we continue to see traders betting on the Federal Reserve being dovish, and oil perks up slightly.
Technical Analysis
Traders continue to look at the upside in this pair but face a resistance barrier.
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The US dollar has rallied against the Canadian dollar again during the day on Monday as the widely reported death of the US dollar seems to be premature.
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From a technical analysis standpoint, the 1.3550 level begins pretty significant support all the way down to 1.3450. However, this session could see fireworks.
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The US dollar has stabilized a bit against the Canadian dollar which I think speaks volumes at this point. Despite the rhetoric, we are still essentially where we have always been.
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The US dollar pulled back against the Canadian dollar on Monday in quiet holiday trading, with consolidation suggesting a potential dip-buying setup near 1.3750.
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The US dollar continues to consolidate against the Canadian dollar near key EMAs, with bullish potential toward 1.40 as geopolitical tensions support demand.
Technical Analysis
The US dollar has continued to firm against the Canadian dollar as the loonie stays under pressure from widening yield spreads, weaker jobs data, and risk‑off sentiment, with USD/CAD holding around the 1.38–1.39 area.
Technical Analysis
USD/CAD respects the key 1.38 level as both nations gear up for Friday’s jobs reports, with the pair likely to remain range-bound between 1.36 and 1.40.
Technical Analysis