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

Daily Price Outlook

- Bullish Bias Above $1.43442: Sustained trading above the pivot confirms upside potential.

- Resistance Levels: Immediate resistance at $1.44631, with further barriers at $1.45272 and $1.45861.

- Support Levels: Key support at $1.42799, with lower levels at $1.42108 and $1.41342 providing downside protection.

The USD/CAD pair is trading at $1.43825, up 0.03%, as the U.S. Dollar holds steady against the Canadian Dollar. The price hovers just above the pivot point at $1.43442, maintaining a cautiously bullish sentiment.

Immediate resistance is observed at $1.44631, followed by stronger hurdles at $1.45272 and $1.45861. On the downside, support lies at $1.42799, with additional levels at $1.42108 and $1.41342, marking critical thresholds for a potential retracement.

The 50-day EMA at $1.43861 provides dynamic resistance, reinforcing the importance of sustained momentum above the pivot point.

A successful break above $1.43442 could set the stage for further gains, targeting the immediate resistance zone at $1.44631. Conversely, a failure to hold above the pivot could lead to selling pressure, testing the $1.42799 support level.

The RSI indicates neutral to bullish momentum, suggesting a balanced market outlook but with an upside bias. Traders should keep an eye on U.S. and Canadian economic data, including oil prices, which heavily influence the Canadian Dollar’s movement.

The overall sentiment remains bullish, but a decisive move above $1.43861 is crucial for validating further gains.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.43435

Take Profit – 1.44641

Stop Loss – 1.43001

Risk to Reward – 1: 2.7

Profit & Loss Per Standard Lot = +$1206/ -$434

Profit & Loss Per Mini Lot = +$120/ -$43