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USD/CAD Technical Analysis
The USD/CAD pair has remained under downward pressure, advancing toward the initial target outlined in our previous technical report of 1.3750, with a session low of 1.3731.
Technical Outlook – 4-Hour Timeframe:
The simple moving averages continue to exert downward pressure on price action, while the pair maintains consistent trading within a descending corrective channel, reflecting sustained selling momentum. Limited upward attempts may emerge due to oversold conditions; however, these do not contradict the prevailing downtrend.
Bearish Scenario: As long as daily trading remains below the resistance levels of 1.3790 and critically 1.3805, the downtrend is the most probable outcome, targeting 1.3750. A break below this level would open the path toward 1.3710.
Bullish Scenario: A break above 1.3810 could temporarily interrupt the expected downtrend, allowing the pair to recover toward 1.3830 and 1.3865.
Risk Considerations:
The current risk environment remains elevated amid ongoing trade and geopolitical tensions. Multiple scenarios remain viable, and appropriate caution is advised.
Risk note
Headline risk is elevated. Use prudent sizing and firm stops; reassess quickly if these trigger levels give way.
| S1: 1.3750 | R1: 1.3805 |
| S2: 1.3705 | R2: 1.3830 |
| S3: 1.3675 | R3: 1.3865 |
