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
Recovery from April low, momentum strong · RSI 67 · price 1.39455
Rally into prior swing high, range top retest.
USDCAD has recovered from the early-April low near 1.3525, with the rally accelerating over the past two weeks into Friday's hot US NFP and the hawkish-Fed repricing that revived USD resilience. Price now retests the late-February swing high at 1.3966, forming a potential double top after a four-month 1.3550–1.3966 range. The pair trades above a flattened EMA(50), with CAD a laggard into Wednesday's BoC hold.
Support: 1.3805, 1.3550
Resistance: 1.3966, 1.4000
What it said to watch
- Daily close above 1.3966 invalidates the double top and opens the 1.40 round number
- BoC decision Wed and US CPI Wed could materially shift this read
- Failure to hold 1.3805 confirms the rally stalling and reopens the range
21:03 UTC
Uptrend, accelerating · RSI 68 · price 1.39455
Higher highs/higher lows, retesting Feb range top.
USDCAD has been climbing in a higher-low chain since the early-April low near 1.3580, with price back above a rising EMA(50). The last week's leg from 1.3783 to 1.3953 was driven by Friday's hot US NFP (172K vs 85K) and hawkish-Fed repricing, which overwhelmed the firm Canadian jobs print. Price is now pressing the late-February high at 1.3966 and the 1.40 psych zone.
Support: 1.3900, 1.3805, 1.3740
Resistance: 1.3966, 1.4000
What it said to watch
- BoC rate decision Wed could materially shift this read
- Daily close above 1.3966 opens the path to 1.40
- Failure to hold 1.3805 swing low breaks the higher-low chain