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USD/CAD Technical Analysis
The USD/CAD pair is staging a gradual short-term recovery, attempting to claw back its prior losses. The pair is currently hovering around the 1.3635 resistance zone, having so far failed to establish a foothold above it.
Technical Outlook – 4-Hour Timeframe
The simple moving averages across the shorter timeframes continue to impose downward pressure on the price, functioning as a dynamic resistance barrier. Meanwhile, the Relative Strength Index (RSI) sits within overbought territory and has begun to flash negative signals once again, hinting at fading bullish momentum.
Likely Scenario:
Should the price remain capped below 1.3660, the downtrend is likely to resume, with initial targets at 1.3590 and a potential extension toward 1.3550.
Conversely, a sustained move and stabilization above 1.3660 could fuel a temporary corrective rebound, paving the way toward 1.3680, followed by 1.3720 as the subsequent objective.
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: 1.3590 | R1: 1.3680 |
| S2: 1.3550 | R2: 1.3720 |
| S3: 1.3505 | R3: 1.3765 |
