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.
21:04 UTC
Downtrend, extending lower · RSI 40 · price 1.39438
Lower highs, breaking July range.
USDCAD is in a downtrend since the mid-June peak at 1.4248, carving lower highs with price now below both EMA(20) and EMA(50). Friday's soft US NFP alongside a strong Canadian jobs print drove the pair to its lowest since June, breaking the 1.40-1.41 range that held through July. Last session closed at 1.3944, sitting below the 1.3980 pivot with the swing low at 1.3925 and the 61.8% fib of the April-June rally (1.3816) in focus.
Support: 1.3925, 1.3900, 1.3816
Resistance: 1.3980, 1.4055, 1.4248
What it said to watch
- US CPI Wed Aug 12 could materially shift this read
- sustained break below 1.3925 swing low confirms downside continuation
- reclaim of the 1.3980 pivot would ease the breakdown
21:04 UTC
Rolling over from June high, downtrend developing · RSI 39 · price 1.39438
Lower highs since June, testing June support.
USDCAD topped near 1.4248 in June and has carved lower highs since, unwinding the April-June rally with price now below both EMA(20) and EMA(50) on D1. Friday's blowout Canadian jobs beat alongside the shock US NFP miss drove the pair to 1.3944, its lowest since June. A rounded-top structure is developing, with the 1.4080 lower high and the 1.41 fade zone capping bounces.
Support: 1.3925, 1.3900, 1.3850
Resistance: 1.4080, 1.4100, 1.4248
What it said to watch
- Daily close below the 1.3925 swing low / 1.3900 round number opens the May 1.3850 base
- Reclaim of the 1.4080 lower high would negate the lower-high sequence
- US CPI Wed Aug 12 could materially shift this read