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USD/CAD Forecasts for 28 October 2021


USD/CAD hangs near multi-month lows, around mid-1.2300s ahead of Canadian CPI
USD/CAD hangs near multi-month lows, around mid-1.2300s ahead of Canadian CPI

USD/CAD lacked any firm directional bias and remained confined in a range on Wednesday. Rallying US bond yields revived the USD demand and extended some...

20 Oct 2021FXCM

Struggles near descending channel support, around mid-1.2400s
Struggles near descending channel support, around mid-1.2400s

USD/CAD dropped to two-month lows and was pressured by a combination of factors. Slightly oversold RSI (14) on the 4-hour chart held trades from placing aggressive bets...

11 Oct 2021OctaFX

USD/CAD struggles near weekly lows, just above mid-1.2600s
USD/CAD struggles near weekly lows, just above mid-1.2600s

The intraday USD selling picked up during the early European session and dragged the USD/CAD pair to fresh weekly lows, around mid-1.2600s in the last hour...

23 Sep 2021FXCM

USDCAD Analysis
USDCAD Analysis

The USDCAD has had an influx of economical events affecting the exchange rate from both sides of the border. Over the past three weeks the asset has seen more bearish...

15 Sep 2021Axiance

USD/CAD drops back below 1.2700 amid a rally in WTI
USD/CAD drops back below 1.2700 amid a rally in WTI

USD/CAD snaps two-day uptrend as WTI rallies on geopolitical risks. US dollar eases ahead of Fed Chair Jerome Powell's speech. Downside opens up below 50-SMA...

27 Aug 2021OctaFX

Remains poised to test 100-DMA, focus on US/Canadian data
Remains poised to test 100-DMA, focus on US/Canadian data

USD/CAD is extending the recent downtrend into the third straight day on Friday, hitting the lowest levels in three weeks near 1.2430, as the selling pressure...

30 Jul 2021FXCM

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USD/CAD: Break above 1.2514 to turn the risk to the upside
USD/CAD: Break above 1.2514 to turn the risk to the upside

USD/CAD surged higher on Tuesday, in line with the tactical bullish view of the Credit Suisse analyst team. A move above 1.2495/2514 is now needed...

7 Jul 2021OctaFX

USD/CAD to trend higher over the next month towards the 1.2639
USD/CAD to trend higher over the next month towards the 1.2639

USD/CAD stays biased higher over at least the next month in the view of the Credit Suisse analyst team. Next resistance is seen at 1.2514, then the more important...

21 Jun 2021FXCM

USD/CAD spikes to 1.2170 area, back closer to one-month tops
USD/CAD spikes to 1.2170 area, back closer to one-month tops

The USD/CAD pair rallied over 40 pips from the early European session lows and climbed to fresh daily tops, around the 1.2170 region in the last hour. Expectations...

15 Jun 2021FXCM

USDCAD moves sideways above 6-year low
USDCAD moves sideways above 6-year low

USDCAD extended its one-month trading range above the more-than-six-year low of 1.2006, increasing speculation that the bears are losing steam and the bulls...

8 Jun 2021XM

Corrective pullback targets 1.2110 resistance confluence
Corrective pullback targets 1.2110 resistance confluence

USD/CAD takes bids around 1.2080, up 0.08% intraday, during early Monday. In doing so, the Loonie pair rises for the second consecutive day as MACD teases bulls...

24 May 2021FXCM

USD/CAD drops to a fresh daily low at 1.2060 despite oil selloff
USD/CAD drops to a fresh daily low at 1.2060 despite oil selloff

After spending the majority of the day above 1.2100, the USD/CAD pair lost its traction during the American trading hours and dropped to a daily low of 1.2060...

20 May 2021OctaFX

USD/CAD Price Analysis: Tests 50-HMA after rising wedge breakdown
USD/CAD Price Analysis: Tests 50-HMA after rising wedge breakdown

USD/CAD bulls trying to defend the 50-HMA support. The spot has charted a rising wedge break down on the hourly sticks. Rejection at 200-DMA prompted...

14 May 2021OctaFX

USDCAD tests 2017 lows in oversold area, downtrend to hold
USDCAD tests 2017 lows in oversold area, downtrend to hold

USDCAD crashed below the 2018 trough of 1.2248 on Thursday, stretching its long-term downtrend towards the critical 1.2150 - 1.2060 zone, where the price...

7 May 2021XM

Greenback and Loonie on backfoot ahead of Labour data
Greenback and Loonie on backfoot ahead of Labour data

The April nonfarm payroll estimates vary from 850k to 978k, though market estimates are skewed to the high side of the forecasts likely due to big declines in initial claims...

7 May 2021HotForex

Loonie may return to losses after April's employment report
Loonie may return to losses after April's employment report

The loonie has been enjoying a strong upside movement against the US dollar over the last month as investors are waiting for April's employment report...

6 May 2021XM

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USDCAD bounces off 5-week low below 1.2400
USDCAD bounces off 5-week low below 1.2400

USDCAD held in losses on Monday, dropping to a five-week low of 1.2383 before turning higher around the 1.2400 handle. The RSI in the four-hour chart...

27 Apr 2021XM

Canadian dollar bruised ahead of BoC decision
Canadian dollar bruised ahead of BoC decision

Canadian Prime Minister Justin Trudeau has just announced that the country will keep its border restrictions intact for at least another month, until May 21...

21 Apr 2021FXTM

Bank of Canada policy meeting: A bond tapering story
Bank of Canada policy meeting: A bond tapering story

The Bank of Canada (BoC) will set its policy on Wednesday at 14:00 GMT, two days after Trudeau's government tables its first budget in two years...

20 Apr 2021XM

USDCAD stuck in a bear trap
USDCAD stuck in a bear trap

USDCAD remained stuck below the long-term descending trendline and under the Ichimoku cloud for another week, but encouragingly, the 1.2515 support held firm...

16 Apr 2021XM

Canadian employment report may boost loonie
Canadian employment report may boost loonie

The Canadian dollar has been underperforming against the US dollar over the last couple of days as investors are waiting for March's employment report on Friday...

7 Apr 2021XM

USD/CAD refreshes session tops, bulls await a sustained move beyond 1.2600 mark
USD/CAD refreshes session tops, bulls await a sustained move beyond 1.2600 mark

A combination of factors assisted USD/CAD to catch some fresh bids on Tuesday. The upbeat US economic outlook, rising US bond yields benefitted the greenback...

30 Mar 2021OctaFX

USDCAD bulls contest concrete bearish bias
USDCAD bulls contest concrete bearish bias

USDCAD is heading towards the 100-period simple moving average (SMA), following an impressive performance after a stable foothold at the multi-year low of 1.2364...

23 Mar 2021XM

USD/CAD slides to 1.2470-60 area amid recovering oil prices
USD/CAD slides to 1.2470-60 area amid recovering oil prices

USD/CAD failed to capitalize on the overnight solid rebound or find acceptance above the 1.2500 mark. Retreating US bond yields weighed on the US...

19 Mar 2021OctaFX

USDCAD rebounds above 3-year low
USDCAD rebounds above 3-year low

USDCAD is heading marginally north after the slip to the 1.2525 support level, however, the pullback off the descending trend line in the previous sessions signals...

12 Mar 2021XM

Canadian employment data may drive loonie higher
Canadian employment data may drive loonie higher

The Canadian dollar is gaining some ground against the US dollar with weak momentum as investors are waiting for February's employment report on Friday...

11 Mar 2021XM

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USDCAD violates Ichimoku cloud's floor
USDCAD violates Ichimoku cloud's floor

USDCAD is currently piercing the Ichimoku cloud's lower surface, while the pair remains confined within a consolidation pattern between 1.2574 and 1.2746...

9 Mar 2021XM

USDCAD trapped in a bear market
USDCAD trapped in a bear market

USDCAD attempted to quickly recover from a three-year low of 1.2467 as it did back in 2016, but the tough ascending trendline and the bottom of the Ichimoku...

5 Mar 2021XM

Loonie remains choppy ahead of Canadian GDP
Loonie remains choppy ahead of Canadian GDP

Fourth quarter GDP numbers will be watched out of Canada on Tuesday (13:30 GMT) as the recovery is expected to have lost steam. Nevertheless...

2 Mar 2021XM

USD/CAD Price Analysis: Slides further below 1.2500 mark
USD/CAD Price Analysis: Slides further below 1.2500 mark

USD/CAD continued losing ground through the first half of the European session. Oversold RSI on short-term charts warrants caution before placing fresh bearish bets....

25 Feb 2021OctaFX


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