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

Daily Price Outlook

- USD/CAD remains capped below $1.45201; a break lower could trigger selling toward $1.43964.

- The 50-day EMA at $1.44122 is acting as support—holding above it keeps bullish momentum intact.

- Short positions below $1.45190 are favorable, with a take-profit at $1.44178 and a stop-loss at $1.45861.

The U.S. dollar is holding firm against the Canadian dollar, trading at $1.44815, maintaining an upward bias but still below its pivot point of $1.45201.

The pair remains supported by the 50-day EMA at $1.44122, which has provided a near-term floor for buyers.

However, a failure to reclaim the pivot point could shift momentum lower, exposing USD/CAD to downside risks toward immediate support at $1.43964, followed by deeper levels at $1.43190 and $1.42453.

If bullish momentum persists, USD/CAD will need a decisive break above $1.45201 to test the first resistance at $1.45947. A stronger rally could extend gains toward $1.46429, with a more significant upside move targeting $1.47012.

However, recent price action suggests cautious trading, with selling pressure likely to emerge near resistance levels.

Traders may consider short positions below $1.45190, with a take-profit target at $1.44178 and a stop-loss at $1.45861 to manage risk. The U.S. dollar’s strength, largely driven by Federal Reserve rate expectations, remains a key factor in determining USD/CAD’s trajectory.

Meanwhile, oil price movements could influence the Canadian dollar, as stronger crude prices typically provide support for CAD, while weakness in energy markets could exacerbate downside risks for the loonie.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.45190

Take Profit – 1.44178

Stop Loss – 1.45861

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1012/ -$671

Profit & Loss Per Mini Lot = +$101/ -$67