Canadian Dollar

USD/CAD put in a massive spike last week after a threat of 25% tariffs on Canada, but when that move pulled back buyers continued to hold support at the key level of 1.4000.

USD/CAD surged to fresh yearly highs as Trump threatens a 25% tariff on Canada- bulls vulnerable into major resistance. Battle lines drawn on the weekly technical chart.

USD/CAD tested above a major level last week of 1.4000, which hadn’t traded in more than four years. So far this week sellers have sunk price back below that level, but can they hold it into week and month-end?

The Trump rally failed at technical resistance last week with a two-day plunge testing the first line of defense. Battle lines drawn on the USD/CAD short-term charts.

USD/CAD snapped a five-week winning streak with the November opening-range now poised for a breakout post-US elections. Battle lines drawn on the weekly technical chart.

USD/CAD erased the early-week sell-off with the Trump rally now poised for a test of technical resistance. Battle lines drawn on the short-term charts into the Fed.

USD/CAD is attempting a fifth weekly advance the bulls threatening a major breakout today. Battle lines drawn on the weekly technical chart.

The USD/CAD rally has stalled at resistance ahead of tomorrow’s Bank of Canada rate decision. Battle lines drawn on the short-term technical charts.

The BoC is expected to boost its efforts in normalizing monetary policy, with the central bank anticipated to reduce the benchmark interest rate by 50bp in September to 3.75% from 4.25%.

Canada’s CPI is projected to slow for the fourth consecutive month in September, with the headline reading seen falling to 1.8% from 2.0% per annum in August.

The US Dollar is surging for a second week with a 1.6% rally in USD/CAD now approaching pivotal resistance. Battle lines drawn on the weekly technical chart.