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
Uptrend stalling, correcting lower · RSI 38 · price 1.40187
Lower highs off June peak, pullback in progress.
The multi-month uptrend from the April lows peaked near the 1.42476 June high, and four-plus sessions of selling have since dragged price to 1.4019, pressing the 1.4000 round number. The move is CAD-led: a ~20% oil rally underpins the loonie while soft June CPI cements a BoC pause, keeping USD/CAD offered. Price now sits below EMA20 with RSI cooling toward the mid-30s, marking a clear pullback within the broader up-leg.
Support: 1.4000, 1.3970
Resistance: 1.4130, 1.42476
What it said to watch
- Daily close below 1.3970 (mar peak) confirms a deeper retrace toward that March pivot
- Reclaim of 1.4130 (swing high) needed to arrest the pullback
- Canada Retail Sales Thu Jul 23 could shift this read
21:04 UTC
Uptrend rolling over, momentum fading · RSI 38 · price 1.40187
Topped at 1.4247, retracing toward mid-range.
The March-June uptrend from 1.3550 peaked with repeated rejections around 1.4247, forming a double top before rolling over. Price has shed roughly 250 pips over the past two weeks, now sitting on the 38.2% retrace and 50-dma cluster near 1.3970 — a level reinforced by soft Canadian June CPI capping CAD gains while a crude rally underpins it. Price trades below both EMA20 and EMA50 with RSI cooling below 40.
Support: 1.3970, 1.3870
Resistance: 1.4130, 1.4247
What it said to watch
- Daily close below 1.3970 confirms a lower low and opens the path toward the 1.3870 swing low
- Recovery back above 1.4130 prior high would neutralise the topping read
- Canada Retail Sales Thu Jul 23 12:30 UTC is the next domestic catalyst for this pair