Noor Trends News, Technical Analysis, Educational Tools and Recommendations
After several consecutive sessions of decline, the USD/CAD pair recorded limited upside during the previous trading session.
Technical Outlook – 4-Hour Timeframe:
The pair has eased its sharp oversold conditions, supported by emerging positive signals from the Relative Strength Index (RSI), which helped generate modest upward momentum. However, simple moving averages continue to act as strong resistance levels, maintaining downward pressure on prices and limiting the potential for a sustained recovery.
Likely Scenario:
As long as trading remains below the psychological resistance level of 1.3800, downside pressure is expected to persist. A confirmed break below 1.3750 could open the way for further losses toward 1.3700.
On the other hand, a return to stability above 1.3800 may temporarily pause the bearish trend and trigger a corrective rebound toward 1.3840.
Warning: Today, markets are awaiting high-impact U.S. economic data, including non-farm payrolls, average earnings, unemployment rates, and the preliminary readings of the manufacturing and services Purchasing Managers’ Index (PMI). Elevated price volatility is likely around the time of release.
Warning: The risk level remains high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Risk note
Headline risk is elevated. Use prudent sizing and firm stops; reassess quickly if these trigger levels give way.
| S1: 1.3750 | R1: 1.3790 |
| S2: 1.3705 | R2: 1.3810 |
| S3: 1.3665 | R3: 1.3840 |
