USD/CAD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Resistance Levels: Immediate resistance at $1.44365, with key targets at $1.44970 and $1.45508 for bullish continuation.

 - Support Levels: Immediate support at $1.43044, with additional layers at $1.42583 and $1.42108 to cap declines.

- Momentum Indicators: RSI at 43 shows mild bearish momentum; a move above the pivot at $1.44133 is critical for bulls.

The USD/CAD pair is trading at $1.43622, up 0.05%, as it navigates a cautious upward trajectory. The pivot point at $1.44133 serves as a critical marker for directional momentum.

Immediate resistance is positioned at $1.44365, with higher targets at $1.44970 and $1.45508, representing potential barriers for sustained bullish momentum. On the downside, support levels lie at $1.43044, followed by $1.42583 and $1.42108, essential for preventing a deeper pullback.

The pair's price action remains underpinned by its proximity to the 50 EMA at $1.43874, which signals near-term consolidation.

The Relative Strength Index (RSI) at 43 reflects mildly bearish conditions, indicating that the pair is neither oversold nor poised for immediate upside strength.

A break above the pivot point at $1.44133 could validate bullish sentiment, targeting the next resistance at $1.44365. Conversely, slipping below the immediate support at $1.43044 may lead to a decline toward $1.42583.

Economic sentiment surrounding oil prices continues to influence the Canadian dollar, adding volatility to the pair.

Thin year-end liquidity and trader caution could magnify short-term movements. Watch for a decisive break above or below the pivot point to determine the pair's next directional move.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.43403

Take Profit – 1.44133

Stop Loss – 1.43044

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$730/ -$359

Profit & Loss Per Mini Lot = +$73/ -$35