Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/CAD pair is attempting a positive rally after several consecutive sessions of decline, retesting the 1.3790 resistance level.
Technical Outlook – 4-Hour Timeframe
The pair has retested a key descending trendline and established a strong negative pressure level. The simple moving averages continue to exert downward pressure on the price, and the Relative Strength Index (RSI) has reached overbought territory, reinforcing the likelihood of a continued downward trend.
Likely Scenario:
If the price remains below the psychological barrier of 1.3800, the downward pressure will increase. A break below 1.3750 would facilitate a move towards 1.3700.
Conversely, if the price stabilizes above the psychological barrier of 1.3800, and more importantly, 1.3810, the downward trend could be temporarily halted, and we might see a recovery attempt targeting 1.3840.
Alert: Today we await high-impact economic data releases from the US: the annual and monthly core Consumer Price Index (CPI) and weekly jobless claims. From the Eurozone, we anticipate the European Central Bank’s (ECB) press conference, interest rate decisions, and monetary policy statement. From the UK, we await the interest rate decision and monetary policy summary. We may see significant price volatility around the time of these releases.
Alert: The risk level is 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 |
