CAD Trying to Bounce Back 3/2/2026

An upward bias is currently dominating USD/CAD after the pair found firm support near the 1.3610 level, allowing bullish momentum to gradually build.

Technical Outlook – 4-Hour Chart

Simple moving averages have shifted back into a supportive role, acting as a dynamic base that could encourage further upside. This is complemented by the Relative Strength Index (RSI), which is attempting to generate positive signals, indicating improving short-term momentum.

Expected Scenario

As long as price action remains above the 1.3615 support level, the technical outlook stays constructive, with 1.3705 standing as the first upside target. A sustained break above this level would likely extend gains toward 1.3730.

On the downside, a consolidation below 1.3610 would temporarily weaken the bullish setup and could halt the advance, opening the door for a corrective pullback toward 1.3560, with potential extension toward 1.3520.

Caution:
Market conditions remain high-risk 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: 1.3610	R1: 1.3705
S2: 1.3560	R2: 1.3750
S3: 1.3515	R3: 1.3805