USDCAD carved a multi-week uptrend off the early-April low near 1.355, peaking at 1.42476 in mid-June before rejecting and sliding back to 1.40 last week. Monday's soft Canada CPI and fresh US tariff headlines lifted the pair off the 1.40 handle, with two up-days recovering to 1.41. Price now sits below EMA20 but above a rising EMA50, consolidating within the broad 1.40–1.42 range.
Support: 1.4000, 1.3970
Resistance: 1.4175, 1.42476
What it said to watch
D1 close above 1.4175 reopens the path to the 1.42476 June high
Failure to hold 1.4000 psych confirms a lower low toward the 1.3970 downside area
Canada Retail Sales Thu 12:30 UTC is the next catalyst that could shift this read
Topped June near 1.4247, retraced to 1.40, now recovering.
USDCAD rallied through March-June from 1.355 to a double top around 1.4247, then unwound to a 1.40 base where buyers stepped in twice near the round number. Monday's soft Canadian CPI and fresh US tariff news drove two straight up-days, lifting the pair back to 1.4107 off that 1.40 double bottom. Price sits above a rising EMA(50) but below EMA(20), consistent with a paused uptrend rather than a fresh leg.
Support: 1.4000, 1.3970
Resistance: 1.4150, 1.4247
What it said to watch
Canada Retail Sales Thu 12:30 UTC could reset the 1.40-1.42 range read
Daily close above 1.4150 opens the path back toward the 1.4247 june high
Failure to hold 1.4000 confirms a lower low and reopens 1.3970