CAD Stops Its Downward Corrective Trend 3/9/2025

The downward corrective trend highlighted in the previous report has paused, with the USD/CAD pair beginning the day’s trading on strong footing, posting notable gains.

Technical Outlook – 4-hour timeframe:

The pair is currently testing the psychological resistance at 1.3800. Simple moving averages have shifted back to support the price from below, reinforcing the bullish outlook. At the same time, the Relative Strength Index (RSI) is delivering positive signals, suggesting the potential for continued upward momentum.

Likely Scenario:

A successful break above the 1.3800 resistance could ease recent negative pressures and pave the way for further gains, targeting the next resistance levels shown on the chart.

Fundamental Note:

Today’s session features high-impact US economic data, including the Job Openings and Labor Turnover Survey (JOLTS). This release may trigger significant volatility in market movements.

Warning: Risks remain elevated amid ongoing trade and geopolitical tensions, and all scenarios should be considered.

Trading in CFDs involves risks, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.

S1: 1.3760	R1: 1.3830
S2: 1.3715	R2: 1.3860
S3: 1.3675	R3: 1.3900