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

Daily Price Outlook

- USD/CAD holds above pivot at $1.43084; bias leans mildly bullish.

- Break above $1.43596 may target $1.44013 and $1.44518 resistance.

- Support sits at $1.42661; deeper risk toward $1.42125 if broken.

USD/CAD is trading marginally lower at $1.43282, just above its pivot point at $1.43084, maintaining a cautiously bullish tone in early trading.

The 4-hour chart shows the pair consolidating above a key support level, with the 50-period EMA positioned at $1.43445. Price action remains tightly compressed between this EMA and immediate resistance at $1.43596, signaling indecision but with an upward lean.

A break above $1.43596 would indicate renewed bullish momentum, potentially lifting the pair toward the next resistance levels at $1.44013 and $1.44518. These zones represent areas of recent selling interest and will be critical in determining the sustainability of any breakout.

On the downside, if the pair dips below the pivot at $1.43084, immediate support lies at $1.42661. A further breakdown may expose deeper levels at $1.42125 and $1.41602, with the latter serving as a major trendline support zone.

As long as the pair stays above the pivot and reclaims the 50-EMA, short-term bias remains upward. However, any failure to hold above $1.43084 could shift control back to sellers.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.43088

Take Profit – 1.43845

Stop Loss – 1.42670

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$757/ -$418

Profit & Loss Per Mini Lot = +$75/ -$41