The Canadian Dollar will be looking to score another performance against the US dollar as it aims to force the price below a multi-week trendline that has sustained the bullish trajectory. Analyzing the fundamentals for both currencies keeps the US dollar at a disadvantage with the latest economic data (NFP, CPI) indicating that the Fed could pause on its tightening campaign. USDCAD will be looking to close above the trendline support to keep the bulls in play. However, a break below spells more risk to the downside with the next major support area around 1.29500
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.