USD/CAD remains range-bound between 1.35 and 1.3750 as easing US 10-year yields weigh on the dollar, with crude oil and tight rate differentials keeping the pair in a consolidation pattern short-term.
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 is attempting a rebound on higher US yields and geopolitical uncertainty, with 1.37–1.3750 as the key recovery zone to watch.
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USD/CAD is pulling back as the Canadian dollar strengthens, with softer US yields weighing on the pair while 1.37–1.3750 remains the main resistance area.
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USD/CAD is slipping after stalling above 1.3850, with the 200-day EMA and 1.3750 now acting as the key downside support zone.
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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.
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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.
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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.
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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.
Technical Analysis
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.
Technical Analysis
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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