USDCAD shrugs off upbeat US jobs data

USDCAD fails to rebound despite stronger US nonfarm payrolls. Bearish trend likely to continue; next support near 1.3455.

XM Group | 124 days ago

USD/CAD could not successfully capitalize on stronger-than-expected US nonfarm payrolls, ultimately closing marginally lower on Thursday. The passage of Trump’s megabill in the Republican-controlled House of Representatives – expected to increase fiscal debt by more than $3 trillion – came as no surprise to investors and kept volatility subdued as US investors logged off for the July 4 celebrations.

However, concerns over global trade partners beginning tariffs payments on August 1 continued to weigh on market sentiment early on Friday, reinforcing the bearish short-term outlook.

Technical indicators are clearly pointing downwards, flagging a potential downtrend extension below May’s low of 1.3538. In this scenario, the tentative support line from July 2023 could come to the rescue near 1.3460. If this level fails to hold, the decline may accelerate toward the 1.3355 support zone, which was last tested in January–February 2024. A further drop could target the 1.3230–1.3275 area.

On the upside, the bulls may encounter immediate resistance between the 20-day simple exponential average (EMA) at 1.3660 and the psychological 1.3700 level. Further up, the 50-day EMA and the 1.3800 mark, which may limit upward momentum and prevent a swift recovery toward 1.3920.

In summary, the current bearish phase in USD/CAD appears to have more room to run, with a new lower low potentially forming around 1.3460.

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Moneta Markets | 1 day ago

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Moneta Markets | 5 days ago

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Moneta Markets | 6 days ago

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Moneta Markets | 7 days ago

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Moneta Markets | 13 days ago

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Moneta Markets | 14 days ago

USDCAD holds ground below 6-month high

USDCAD remains in bullish tendency; But technical oscillators show some weakness; Will the price continue bullish structure?

XM Group | 19 days ago

Oil Steadies as India Halts Russian Imports, Dollar Weakens on Fed Bets | 16th October 2025

Oil steadied near $58 after India halted Russian imports, easing supply fears. The US Dollar weakened as dovish Fed expectations lifted risk appetite and commodities. Gold surged above $4,200, while NZD and CAD gained on USD softness. Traders now eye Fed comments, US data, and EIA reports for market direction.

Moneta Markets | 20 days ago

EURUSD	1.14913	GBPUSD	1.30491	AUDUSD	0.65034
USDJPY	154.062	USDCAD	1.41078	USDCHF	0.80993