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USD/CAD Technical Analysis
The USD/CAD pair is staging a recovery attempt following several consecutive sessions of decline, hovering in close proximity to the support zone near 1.3660.
Technical Outlook – 4-Hour Timeframe
The simple moving averages across the shorter timeframes have regained upward traction, lending support to the prospect of a limited bullish rebound. This constructive picture is further reinforced by the positive signals emerging on the Relative Strength Index (RSI), which point to building momentum in favor of the bulls.
Likely Scenario:
Should the price maintain its footing above the 1.3660 support floor, the pair could find room for modest gains, with initial targets emerging at 1.3710, followed by 1.3735 as the subsequent objective.
Conversely, a decisive break beneath 1.3660 would invalidate the recovery scenario and reignite the prevailing downtrend, paving the way toward 1.3600 as the next downside target.
Key Economic Events to Watch:
Today’s session features a heavy slate of high-impact economic releases from major economies, which are expected to materially influence market dynamics:
🇬🇧 United Kingdom:
- Interest Rate Decision
- Bank of England Monetary Policy Statement
- MPC Official Bank Rate Vote
🇪🇺 Eurozone:
- European Central Bank Monetary Policy Statement
- ECB Press Conference
🇺🇸 United States:
- Core PCE Price Index
- Advance GDP (Quarterly)
Risk Alert: Risk levels remain elevated amid persistent trade frictions and geopolitical tensions — all scenarios should be considered plausible.
Risk note
Headline risk is elevated. Use prudent sizing and firm stops; reassess quickly if these trigger levels give way.
| S1: 1.3665 | R1: 1.3710 |
| S2: 1.3640 | R2: 1.3735 |
| S3: 1.3600 | R3: 1.3765 |
