21:04 UTC
Uptrend rolling over, momentum fading · RSI 40 · price 1.40174
Topping after double top, breaking lower highs.
USDCAD ran a multi-month uptrend off the mid-April low near 1.3550 to a June peak, where two attempts stalled at 1.4247 to form a double top. Price has since rolled over for the last two weeks, breaking back below 1.4100 and now pressing the 1.4000 psychological zone with Scotiabank's 1.3974 fair value just below, as an oil-driven CAD bid and BoC's hold cap the pair. RSI sits mid-40s and price trades below EMA20/EMA50, confirming the swing-trend has lost its upside footing.
Support: 1.4000, 1.3974, 1.3900
Resistance: 1.4100, 1.4247
What it said to watch
- Canada CPI Mon 12:30 GMT is the next high-impact catalyst that could reset this read
- Daily close below 1.4000 psych opens the path toward the 1.3900 50% fib
- Reclaim of 1.4100 would negate the double-top breakdown