USD/CAD Forecast

This section features USD/CAD forecasts for today, tomorrow, and for a week. Here you can figure out the general situation and make your personal decision whether to follow this analytics or not. USDCAD currency pair is one of the most popular on the market; it is much in demand with currency traders. The share of this pair in the total trade volume is about 10%. Compared to US dollar, Canadian dollar (the "loonie") gains in weight more steadily over the course of a few decades. Canadian dollar is a commodity currency and is influenced by prices on various raw materials, including oil.


January 19, 2017
Canadian dollar falls on fears of US protectionism
Although the Bank of Canada (BoC) left its overnight rate unchanged at 0.5% as expected on Wednesday, BoC Governor Stephen Poloz also said that “a rate cut remains on the table,” which helped prompt a sharp fall for the Canadian dollar...
December 9, 2016
USD/CAD drops to key support on crude oil surge
USD/CAD fell to a major support level around 1.3200 on Thursday as crude oil prices surged amid speculation over this weekend’s meeting between major oil producers that may extend OPEC’s recent deal to cut production...
November 14, 2016
USDCAD and Gold Test Key Levels
USDCAD has seen a substantial rebound from a three-week low of on the US election night. It has been trading above the downside uptrend line support with strong bullish momentum...
October 28, 2016
USD/CAD bullish perspective remained intact
The current crude oil correction kept on weighing on CAD. Besides, the BoC dovish comments last week weakened near-term Canadian dollar perspectives...
October 21, 2016
USDCAD takes centre stage
The US dollar has continued to find see strong support from the domestic markets as US housing prices lifted quite strongly to 5.5M (5.3M exp) showing continued confidence in the housing market from consumers...
October 21, 2016
USDCAD takes centre stage
The US dollar has continued to find see strong support from the domestic markets as US housing prices lifted quite strongly to 5.5M (5.3M exp) showing continued confidence in the housing market from consumers...
October 10, 2016
USDCAD Tests Major Resistance
USDCAD has been bullish since the early September, as the recent US economic data outperforms. Yet the price is trading below the mid-term resistance level at 1.3300, the selling pressure at this level is very heavy, the price will likely pull back at this zone...
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September 16, 2016
Canadian dollar is weaker against the U.S. dollar
The USA/CAD is in ascending channel, close to its upper boundary. After a brief test of the weekly highs near 1.3200 the price made an attempt to return below the tested level. Sellers seem to be struggling for the level 1.3200 now. The moving averages are below the price...
September 7, 2016
USD/CAD sinks further on weak US data
The US dollar was pummeled on Tuesday after the US ISM non-manufacturing PMI data for August was released. This data showed a significantly slower-than-expected expansion at 51.4 against prior expectations of 55.4...
September 6, 2016
USDCAD down again
USDCAD is down for a third consecutive day, this time making 11-day lows under 1.2900. The pair has been hit by two things, one being Friday’s post-U.S. jobs report losses, which has eroded Fed tightening expectations, and the other being a rally in oil prices...
September 1, 2016
USD/CAD resumed its bullish momentum
A better-than-expected US ADP Employment survey and disappointing Canadian GDP for Q2 weighed on the Canadian dollar...
August 11, 2016
USD/CAD has been under intense selling pressure since last week
The instrument is in an upward channel and traders pushed the price to its low limit on Wednesday. The USD/CAD found a strong support at 1.3000 where the pair reversed and partly erased its gains. The resistance is at 1.3100, the support comes in at 1.3000...
July 26, 2016
USD/CAD breaks out to new high
USD/CAD climbed slightly above key resistance around the 1.3200 level on Monday, primarily due to the Canadian dollar having been dragged down by falling crude oil prices...
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June 30, 2016
USD/CAD analysis for June 30, 2016
The US dollar slightly fell against the major currencies. The market continued to work out the decision of the UK to exit the EU. Meanwhile, the growth of oil prices supported the Canadian dollar...
June 27, 2016
USD/CAD faces minor resistance around 1.30500
Major resistance - 1.3100. Major support - 1.2920 (200 4H MA). Lonnie has broken psychological resistance 1.3000 and jumped till 1.30989...
June 1, 2016
USD/CAD stays afloat amid weak Canadian growth
Canadian GDP data for March was released on Tuesday, revealing a second consecutive month of economic contraction at -0.2%, further disappointing prior expectations of -0.1%. The previous month of February had shown a smaller contraction at -0.1%...
May 19, 2016
USDCAD: Will the Loonie finally make up its mind
The US dollar has eased off its best levels after rebounding across the board following the release of some strong US macroeconomic pointers on Tuesday...
May 11, 2016
USD/CAD upsurge impeded by recovering oil price
The USD/CAD turned sharply higher ever since traders realised that there was a lack of supply beneath the psychological level of 1.25 last Tuesday, leading to a 500-pip rally to the next psychological hurdle of 1.30...
May 5, 2016
USD/CAD rebounds sharply on Canadian trade deficit
USD/CAD continued its sharp rebound for the second consecutive day on Wednesday as crude oil remained in retreat, the US dollar saw a modest relief bounce, and the Canadian dollar was hit by data showing a worse-than-expected trade deficit...
April 18, 2016
Doha oil meeting failure and USDCAD update
AUD and CAD got hammered as the Doha meeting on oil restrictions failed and caused substantial concerns over the oil cartel OPEC’s ability to restrict and control the oil production...
April 13, 2016
Is USDCAD a sell after a rally
USDCAD has been moving lower in recent days while the WTI crude has rallied. Now the pair is oversold and therefore vulnerable to contra trend moves. Stochastics is well below the oversold threshold in the daily chart and USDCAD has moved below the lower Bollinger bands...

April 6, 2016
USD/CAD forms tentative bottom
Since it hit a new five-month low below 1.2900 late last week on the last day of March, USD/CAD has rebounded to hit a high briefly above 1.3200 resistance as of Tuesday. This rebound has occurred as the price of crude oil has retreated in the past several trading days...
March 22, 2016
USD/CAD rebound could be short-lived
The USD/CAD has collapsed after its parabolic rise ended in mid-January, when oil prices first showed signs of stabilisation. Since peaking at just shy of 1.4700, the Loonie has tumbled to below 1.30, hitting a low of 1.2925 last week...
March 10, 2016
USD/CAD edging lower as BOC takes a sanguine view on Loonie
As expected, the first major central bank decision of the week was not much of a decision at all. Earlier this morning, the Bank of Canada opted to leave interest rates unchanged at 0.50%, as all 11 primary dealers surveyed by the Wall Street Journal expected...
March 2, 2016
USD/CAD extends dive on oil rebound, Canada GDP
USD/CAD further extended its prolonged pullback on Tuesday to hit and slightly dip below major support at the 1.3400 level and its key 200-day moving average. The currency pair has not broken below its 200-day moving average since late-2014...
February 26, 2016
USDCAD oversold with a sell area above
USDCAD broke below an important support in yesterday trading. The 1.3640 to 1.3660 area had supported price in January and then twice February. This has caused the pair to be oversold in both daily and 4h timeframes...
February 10, 2016
USDCAD: consolidation after the IEA report
The IEA report, published this week, reflects the agency's doubts in the ability of OPEC and other oil producing countries to reduce quotas in the short term...
February 8, 2016
The USDCAD pair may test the level of 1.3796 today
At the moment, the WTI crude oil prices are rising by 1.04%, testing the level of $31.21. They are supported by the Baker Hughes statistics on the number of active drilling rigs in the United States, which fell by 48 to 571 last week...
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February 4, 2016
Analytical review of the currency pair USD/CAD for February 04, 2016
Long-term trading: the data on non-farm payrolls, which will be released on Friday, 5 February, is unlikely to have a strong impact on the CAD. Currently we recommend to refrain from opening long-term trades on the pair USD/CAD...
February 2, 2016
USDCAD: consolidation in the range of 1.3907-1.4087
According to Baker Hughes, the number of active rigs in the US fell form 18 to 619 last week. Low oil prices will sooner or later lead to a reduction in the US oil production and the subsequent growth of the "black" gold prices...
February 1, 2016
USD/CAD: A downward trend is strong on February 01, 2016
Assumingly, a downward zigzag within a large Bearish correction continues forming. Locally, the fifth wave (c) seems to be developing and if the assumption is correct, the pair continues falling towards the level of 1.3800...