USDCAD is mirroring the DXY’s broader trend — rebounding off oversold momentum levels last seen in 2021 and facing resistance due to softer US economic data.
• Bullish scenario: A break and hold above 1.4020 may open the way for gains toward 1.4080, 1.4150, and 1.4270.
• Bearish scenario: A decisive break below 1.3930 could trigger further downside toward 1.3830, 1.3750, and 1.3600.
Key Events to watch for next week:
- Canadian CPI on Tuesday
- Canadian Retail Sales on Friday
- US Trade Deal Developments
Written by Razan Hilal,CMT
• Bullish scenario: A break and hold above 1.4020 may open the way for gains toward 1.4080, 1.4150, and 1.4270.
• Bearish scenario: A decisive break below 1.3930 could trigger further downside toward 1.3830, 1.3750, and 1.3600.
Key Events to watch for next week:
- Canadian CPI on Tuesday
- Canadian Retail Sales on Friday
- US Trade Deal Developments
Written by Razan Hilal,CMT
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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.
Disclaimer
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.