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

Daily Price Outlook

- USD/CAD remains bearish below $1.43084, with downside targets at $1.42764 and $1.42409.

- Resistance at $1.43388 must be broken for bulls to regain control and push toward $1.43793.

- Oil price strength and Fed policy shifts will influence USD/CAD’s next major move.

The USD/CAD pair is trading at $1.42958, showing slight weakness as it struggles to maintain bullish momentum. The price is currently below the pivot point at $1.43084, suggesting that sellers hold control in the near term.

The 50-day EMA at $1.43514 reinforces bearish sentiment, indicating further downside potential if key support levels break.

On the upside, immediate resistance stands at $1.43388, followed by $1.43793 and $1.44214. A break above these levels could indicate renewed buying interest, but momentum remains weak. For bulls to regain control, USD/CAD must decisively close above the 50-day EMA at $1.43514.

On the downside, support at $1.42764 is critical for short-term price action. A break below this level could drive the pair toward $1.42409, with further declines extending to $1.42086. A sustained move below $1.42764 would confirm bearish momentum, potentially leading to deeper losses.

Technically, a break below $1.43080 is likely to accelerate selling pressure, making $1.42573 a key short-term target.

However, if USD/CAD rebounds and moves above $1.43388, sentiment could shift toward a potential bullish correction. Traders should watch for a break below $1.43080 to confirm further downside momentum.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.43080

Take Profit – 1.42573

Stop Loss – 1.43374

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$507/ -$294

Profit & Loss Per Mini Lot = +$50/ -$29