USDCAD steadies as markets brace for US jobs report impact

USDCAD battles with 1.3800 after bullish rally; MACD and RSI point down; NFP report may change the short-term outlook

XM Group | 11 h 18 min atrás

USDCAD has rebounded from the 1.3720 support level, climbing above both the 50-day and 20-day simple moving averages (SMAs). The price action remains comfortably above both the short- and long-term ascending trendlines, reinforcing the broader bullish structure. Market participants are now turning their attention to the upcoming US jobs report for August, which could influence expectations around a potential Federal Reserve rate cut later this month.

Despite the recent upside, technical indicators are signaling a possible short-term pullback. The MACD is trending lower beneath its signal line, while the RSI is edging down toward the neutral 50 level, suggesting waning bullish momentum.

Should the pair retreat, initial support is likely to emerge at the 50-day SMA near 1.3720. A deeper correction could bring the price toward the confluence of trendlines around 1.3630, a level that may act as a critical pivot for the medium-term outlook.

On the upside, sustained bullish momentum could drive the pair toward the recent high of 1.3920. A break above this level would open the door to the 200-day SMA, which aligns with the 1.4020 resistance zone. A successful breach of this area would confirm a renewed bullish wave and potentially signal a continuation of the broader uptrend.

Summarizing, USDCAD remains technically supported above moving averages and trendlines, but momentum indicators suggest a possible near-term pause or retracement. The upcoming US employment data may be pivotal in shaping short-term direction.

XM Group

4.2

230 reviews

Tipo: Market Maker

Regulamento: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)

Etiquetas: Análise USDCAD

Pound in Focus Ahead of UK Retail Sales as Majors Brace for Data | 5th September 2025

FX markets eye UK Retail Sales for GBP/USD direction, with data seen softer but key before NFP. EUR/USD holds above 1.1650 ahead of Eurozone GDP, while USD/JPY stays heavy near 147.00 on Fed cut bets and strong JPY data. DXY weakens toward 98.00; USD/CAD slips to 1.3800 as oil steadies. Volatility likely as data drives sentiment.

Moneta Markets | 11 h 50 min atrás

Oil Extends Losses as Demand Concerns Weigh on Markets | 2nd September 2025

Oil slid below $64.50 on weak demand and supply worries, while silver surged past $40.50 to 14-year highs on safe-haven flows. The USD firmed, pressuring AUD and CAD, though EUR/USD held above 1.1700. USD/CAD stayed near 1.3750 as oil steadied. Traders eye U.S. inflation, Fed signals, OPEC moves, and Eurozone data for direction.

Moneta Markets | 3 dias atrás

Currencies in Focus: Australian Dollar Strong Amidst US Dollar’s Decline | 28th August 2025

AUD/USD climbs toward 0.6510 on strong local data and USD weakness, while gold retreats from $3,400 on profit-taking despite Fed cut bets. EUR/JPY holds above 171.00 but French political risks cap gains. USD/INR steadies near 87.80 as tariffs offset dollar softness, while USD/CAD slips toward 1.3750 ahead of US GDP and PCE. Traders brace for key US data to set the tone.

Moneta Markets | 8 dias atrás

Markets in Flux: Gold Slips on USD Demand as WTI Rallies Amid Geopolitical Concerns | 26th August 2025

WTI rallies above $63.50 as fading hopes for a Russia-Ukraine peace deal boost oil prices. Gold struggles near $3,330 despite Fed rate cut bets, while silver holds firm near $39.00. AUD/USD climbs toward 0.6550 on risk appetite and dovish Fed tone, while USD/CAD stays weak near 1.3500 as oil strength supports the loonie. Markets now eye U.S. jobs and inflation data for direction.

Moneta Markets | 10 dias atrás

Markets React to Powell’s Dovish Tone: Gold Slips, USD Mixed Across Majors | 25th August 2025

Markets react to Powell’s dovish tone as gold dips near $3,365 and NZD/USD consolidates around 0.5860 despite upbeat retail sales. EUR/USD retreats toward 1.1700, while AUD/USD slips to 0.6480 on RBA easing bets. USD/CAD holds near 1.3820 after Friday’s sharp drop. Traders now eye U.S. GDP, PCE inflation, and Canada’s GDP for the next directional cues.

Moneta Markets | 11 dias atrás

Eurozone PMI in Focus as Dollar Holds Strong | 21st August 2025

FX markets tread cautiously ahead of Eurozone PMI and FOMC minutes. EUR/USD holds near 1.1650 under dollar pressure, while GBP/USD slips toward 1.3400 on sticky UK inflation. USD/JPY steadies in the mid-147s, EUR/JPY consolidates near 171.70, and USD/CAD hovers at 1.3880 with oil gains offering little relief. Traders eye PMI prints and Fed signals for direction.

Moneta Markets | 15 dias atrás

Gold Climbs, Silver Tests Resistance as Dollar Gains on CPI Data | 13th August 2025

Gold nears $3,350 and silver tests $38.20 as soft US CPI boosts Fed rate-cut bets. USD/CAD climbs to 1.3780 on weaker oil and CAD, while NZD/USD slips below 0.5950 on China deflation fears. AUD/USD steadies near 0.6500 amid RBA cut expectations. Markets eye Fed signals and geopolitical risks for next moves.

Moneta Markets | 23 dias atrás

Has USD/CAD found the next bull trigger?

USD/CAD lacks momentum but maintains hopes for a positive reversal. Market action tests a make-or-break point near 1.3720.

XM Group | 28 dias atrás

EURUSD	1.17154	GBPUSD	1.35017	AUDUSD	0.65509
USDJPY	147.453	USDCAD	1.38495	USDCHF	0.7984