Every read JAFX AI made on the USD/CAD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:03 UTC
Uptrend, momentum stretched · RSI 72 · price 1.42065
Higher highs since April, now range-bound near cycle highs.
Quarter-long uptrend, price holding above a rising EMU(50) on D1 since the early-April base near 1.3550, driven by a dovish-BoC vs firm-USD regime and lingering USMCA trade risk. The last ~8 sessions have consolidated between the 1.4150 range low and the 1.4248 15-month high, with daily RSI stretched near overbought after the June push. The advance has stalled just under 1.4248 without a clean new high.
Support: 1.4150
Resistance: 1.4248
What it said to watch
- Daily close above 1.4248 15-mo high opens the path higher
- Failure to hold 1.4150 range low breaks the multi-week consolidation
- Canada Labour Force Survey Fri Jul 10 12:30 UTC could materially shift this read
21:03 UTC
Uptrend, momentum extended · RSI 72 · price 1.42065
Higher highs, higher lows since April.
USDCAD has climbed in a steady multi-week uptrend since the early-April base near 1.3600, holding above a rising EMA(50) throughout and printing 15-month highs at 1.4248. Dovish BoC and USMCA trade uncertainty keep CAD heavy, while a firm dollar underpins the advance; daily RSI near 72 flags an overbought, extended condition that has stalled price into a tight 1.4150-1.4248 consolidation over the last two weeks. The nine-day EMA around 1.4180 has capped shallow pullbacks so far.
Support: 1.4180, 1.4150
Resistance: 1.4248, 1.4500
What it said to watch
- Daily close above 1.4248 15-month high opens the path toward the 1.45 psych level
- Failure to hold 1.4150 swing low signals loss of upside momentum
- Canada jobs Fri Jul 10 12:30 UTC could materially shift this read
- FOMC minutes Wed 18:00 UTC a risk to the dollar leg