Every read JAFX AI made on the USD/CAD weekly chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
19:03 UTC
Recovery within a broader range, momentum firming · RSI 67 · price 1.42064
Rebound off multi-quarter low into upper range.
USDCAD carved a multi-quarter decline from the 1.4793 high through 2025, bottoming near 1.3480, and has since recovered into the upper half of that range at 1.42. Price now holds above a rising W1 EMA(50), with twin highs at 1.4248 capping the rebound; the corrective CAD bid after the June jobs beat has not dented the recovery. RSI is elevated but shy of overbought.
Support: 1.4075, 1.3950
Resistance: 1.4250, 1.4400, 1.4793
What it said to watch
- Weekly close above 1.4250 double top opens the path toward 1.44
- Failure to hold 1.4075 prior low undermines the recovery structure
- BoC decision Jul 15 and US CPI Jul 14 could materially shift this read
19:03 UTC
Recovery leg within broad range · RSI 62 · price 1.42064
Range-bound, price at upper boundary.
USDCAD has been range-bound between the 1.3481 range low and the 1.4793 2025 high since the Q1-2025 top, with the last leg a steady recovery off the January-2026 low back into the upper half. Price now presses the 1.4248 range top after firming through Q2, and sits above a rising W1 EMA(50), keeping the macro structure constructive. CAD found some support on the June jobs beat, but soft oil and a BoC hold next week cap Loonie upside near this pivot.
Support: 1.4000, 1.3820, 1.3481
Resistance: 1.4248, 1.4480, 1.4793
What it said to watch
- Weekly close above 1.4248 opens the path toward the 1.4480 prior high
- Failure to hold 1.4000 round number threatens the recovery leg toward 1.3820
- US CPI Tue and BoC decision Wed could materially reshape this read