Is USD/CAD poised for another bullish round?

USDCAD brings key resistance in focus after rebound. Technical signals are encouraging, but a bullish outlook expected above 1.3600.
XM Group | 430 days ago
Stocktwits

USD/CAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022.

The 50% Fibonacci retracement of the November-December 2023 downleg is currently challenging the bulls around 1.3535. The chances of the bulls winning the game there are high because the RSI has crossed the neutral mark of 50 and the stochastic oscillator is showing an upward trend. If that proves to be the case, the pair might speed up to test the crucial resistance zone of 1.3600-1.3622, where the broken ascending trendline from December is placed. Breaking through that wall could be a game-changer, reigniting the 2024 uptrend and propelling the pair to the 1.3700-1.3745 area.

In the event the 1.3535 bar blocks the way up, the price might revisit the 1.3455-1.3465 area on the downside, where the 38.2% Fibonacci number is also positioned. Slightly lower, the 2021 ascending trendline could also act as a safeguard around 1.3430, preventing a freefall towards the 23.6% Fibonacci of 1.3345 and therefore a trend deterioration.

To summarize, USD/CAD could experience more positive trading sessions in the near term, particularly if the bulls break through the resistance of 1.3535.  

Regulation: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
Tags: Analysis USDCAD
Stocktwits
read more
Market Update: March 12, 2025

Market Update: March 12, 2025

Financial markets are poised at a critical juncture with key currency pairs reacting to shifting dynamics and the looming US CPI report. Here’s a detailed look at today’s key market developments:
Moneta Markets | 68 days ago
USDJPY, USDCAD, GBPUSD

USDJPY, USDCAD, GBPUSD

US CPI may give hints for Fed's next meeting; USDJPY plunges; BoC expected to cut rates by 25 bps; USDCAD is neutral; Will UK GDP affect pound?; GBPUSD eases from 4-month high
XM Group | 69 days ago
Tools
Economic Calendar
Market Hours
Interest Rates
Holidays Calendar
Forex Market
Forex Volatility
Forex Correlation
Forex News
forex analysis
COT Data
Liquidity
Forex Calculators
Forex Heat Map
Indicators Heatmap
Community
Community
Systems
Most Popular Systems
Strategies
Contests
Forex Charts
Forex Sentiment
Sentiment Indicator
Reviews
Brokers
Prop Trading Firms
VPS Services
Signal Providers
EA Programming Services
Affiliate Programs
PAMM Broker Services
Rebate Program Services
Trading Platforms
Expert Advisors
Crypto Exchanges
Trading Courses
Brokers
Forex Spreads
Forex Broker Quotes
Forex Broker Swaps
Forex Broker Volume
Forex Broker Promotions Press Release
Platform
Widgets
Features
API
RSS
Stock Portfolio
Affiliate Software
Advanced Charts
Support
FAQ
Help
Contact Us
Report a Bug!
About
Blog
© 2025 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.