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

Daily Price Outlook

- USD/CAD remains bullish above $1.42750, eyeing resistance at $1.43803 and $1.44394.

- Break above the 50-day EMA at $1.43988 could confirm further upside potential.

- Support at $1.42193 remains key—failure to hold could trigger a deeper pullback.

USD/CAD is currently trading at $1.43342, marking a slight 0.01% gain, as the pair navigates a critical price zone. The currency pair remains under bullish pressure, reflecting strength in the U.S. dollar against the Canadian dollar, amid fluctuating commodity prices and macroeconomic data.

From a technical standpoint, USD/CAD is positioned above its pivot point at $1.42750, indicating the potential for further upside. If buyers maintain control, the pair could test immediate resistance at $1.43803. A breakout above this level could open the door toward $1.44394, with an extended rally targeting $1.45029, a level that has previously acted as a significant supply zone.

Conversely, key support levels are situated at $1.42193, followed by $1.41602. A drop below these levels could shift momentum in favor of sellers, with a potential move toward $1.40984, where buyers are likely to step in.

Moving averages suggest a mixed outlook. The 50-day EMA at $1.43988 remains above the current price, indicating short-term resistance. A sustained break above this level would reinforce bullish sentiment, while rejection at this zone could trigger a pullback.

Traders should monitor USD/CAD’s reaction near $1.43803. A strong close above this level could confirm further upside, while a failure to breach resistance may lead to consolidation or retracement toward lower support.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.42743

Take Profit – 1.43802

Stop Loss – 1.42176

Risk to Reward – 1:1.8

Profit & Loss Per Standard Lot = +$1059/ -$567

Profit & Loss Per Mini Lot = +$105/ -$56