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USD/CAD Forecast


USDCAD H4: Bullish momentun is on the rise
USDCAD H4: Bullish momentun is on the rise

The USDCAD currency pair on the H4 time frame had a short downtrend until 24 November when a last lower bottom was recorded at 1.33156...

30 Nov 2022FXTM

USDCAD struggles for a firm direction
USDCAD struggles for a firm direction

USDCAD is seen oscillating in a narrow trading band on the last day of the week. Bearish Crude Oil prices undermine the Loonie and offer support to the major...

18 Nov 2022OctaFX

USD/CAD climbs closer to mid-1.3700s, nearly two-week high amid broad-based USD strength
USD/CAD climbs closer to mid-1.3700s, nearly two-week high amid broad-based USD strength

USD/CAD scales higher for the sixth straight day and climbs to a one-and-half-week high. The Fed’s hawkish outlook boosts the USD and remains supportive of the positive move...

3 Nov 2022FXCM

USDCAD D1: The bears are in full attack mode
USDCAD D1: The bears are in full attack mode

The USDCAD currency pair on the D1 time frame was in an uptrend that lasted until 13 October after which a last higher top was recorded at 1.39760. A closer look at the Momentum Oscillator reveals a negative divergence...

2 Nov 2022FXTM

USD/CAD to keep moving up closer to 1.40
USD/CAD to keep moving up closer to 1.40

The Canadian dollar remains the second-best performing G10 currency year-to-date although it has traded on a weaker footing over the past month. Economists at MUFG Bank expect..

17 Oct 2022OctaFX

USDCAD H4: The bears caused a breakout
USDCAD H4: The bears caused a breakout

The USDCAD on the H4 time frame had upward structural momentum that lasted until 30 September when a higher top was recorded at 1.38338. After the higher top at 1.38338...

4 Oct 2022FXTM

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USD/CAD remains depressed near mid-1.3700s amid rising oil prices
USD/CAD remains depressed near mid-1.3700s amid rising oil prices

A combination of factors prompts some selling around USD/CAD on Monday. Bullish oil prices underpin the loonie and exert pressure amid a softer USD. Sliding US bond yields...

3 Oct 2022OctaFX

USD/CAD sits near two-year high, remains below 1.3400
USD/CAD sits near two-year high, remains below 1.3400

USD/CAD retreats from the 1.3400 neighbourhood or a two-year high set earlier this Wednesday. A sharp intraday rally in crude oil prices underpins the loonie and acts as a headwind for the pair...

21 Sep 2022OctaFX

USDCAD H4: The bears might make their influence felt again
USDCAD H4: The bears might make their influence felt again

The USDCAD on the H4 time frame was in an uptrend that made a higher top at 1.32079 on 1 September. Supply overcame demand and the price structure started changing...

6 Sep 2022FXTM

USD/CAD retreats from multi-week high, drops to 1.3000 amid an uptick in oil prices
USD/CAD retreats from multi-week high, drops to 1.3000 amid an uptick in oil prices

USD/CAD retreats from a multi-week high and is pressured by a combination of factors. Some follow-through rise in crude oil prices underpin the loonie and act as a headwind...

23 Aug 2022OctaFX

USD/CAD sticks to modest gains near mid-1.2800s, lacks follow-through buying
USD/CAD sticks to modest gains near mid-1.2800s, lacks follow-through buying

USD/CAD gains some positive traction on Thursday, though lacks bullish conviction. Weaker crude oil prices seem to undermine the loonie and offer support to the pair...

4 Aug 2022OctaFX

USD/CAD: A move to the 1.31-1.32 area is surely possible
USD/CAD: A move to the 1.31-1.32 area is surely possible

Canada’s jobs numbers should show a modest slowdown in hiring. However, USD/CAD is set to be moved by external factors, which could lift the pair to the 1.31/32 area...

8 Jul 2022OctaFX

USD/CAD remains depressed below 1.3000 amid modest USD weakness
USD/CAD remains depressed below 1.3000 amid modest USD weakness

A combination of factors prompted fresh selling around USD/CAD on Friday. The risk-on impulse weighed the safe-haven USD and exerted some pressure. An uptick in oil prices underpinned...

24 Jun 2022OctaFX

Limited appreciation potential for the loonie in the medium-term
Limited appreciation potential for the loonie in the medium-term

The loonie has recovered somewhat against the USD since mid-May. However, economists at Commerzbank continue to see limited CAD appreciation potential. In the short-term...

10 Jun 2022OctaFX

USD/CAD weakens further below 1.2800 mark
USD/CAD weakens further below 1.2800 mark

USD/CAD prolonged its recent bearish trend and dropped to a fresh two-week low on Friday. The tight supply outlook acted as a tailwind for crude oil prices, which underpinned the loonie...

20 May 2022OctaFX

USD/CAD to reach 1.31 before retracing towards 1.27 by year-end
USD/CAD to reach 1.31 before retracing towards 1.27 by year-end

The slide in CAD in recent weeks reflects a broadly stronger greenback. Economists at CIBC Capital Markets think the loonie will follow broad USD sentiment and is likely...

13 May 2022FXCM

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USD/CAD eases from YTD peak, holds above 1.2900
USD/CAD eases from YTD peak, holds above 1.2900

USD/CAD gained traction for the third straight day and climbed to a fresh YTD high on Monday. Sliding crude oil prices undermined the loonie and extended support amid sustained USD buying...

9 May 2022OctaFX

USD/CAD holds steady near multi-week top, above 1.2800 ahead of US Q1 GDP
USD/CAD holds steady near multi-week top, above 1.2800 ahead of US Q1 GDP

USD/CAD held steady near the multi-week high amid sustained USD buying. The prospects for rapid Fed rate hikes continued underpinning the greenback...

28 Apr 2022OctaFX

USDCAD setting up a new push higher?
USDCAD setting up a new push higher?

This week so far has definitely been about the USD. Price has seen solid gains so far, with the index adding 0.98% and hitting a new weekly high of 99.65...

12 Apr 2022Eightcap

USD/CAD to edge higher as scope for BoC dovish disappointment is evident
USD/CAD to edge higher as scope for BoC dovish disappointment is evident

Economists at HSBC expect USD/CAD to push higher given a lot of hawkishness is already in the price. Rates rather than riks is likely to remain dominant for the loonie...

24 Mar 2022OctaFX

USD/CAD consolidates above mid-1.2700s
USD/CAD consolidates above mid-1.2700s

USD/CAD struggled to gain any meaningful traction on Friday and remained confined in a range. The USD gained traction for the second successive...

11 Mar 2022FXCM

USDCAD H4: Bulls are on the march
USDCAD H4: Bulls are on the march

The Loonie on the H4 time frame was in a bearish trend until 3 March when a lower bottom was reached at 1.25861. Bulls found the price attractive...

8 Mar 2022FXTM

USD/CAD bears eye 1.2700 on firmer oil, upbeat sentiment
USD/CAD bears eye 1.2700 on firmer oil, upbeat sentiment

USD/CAD remains pressured around weekly low, on the back foot for the third consecutive day. DXY tracks yields to pare recent gains as market sentiment improves...

16 Feb 2022FXCM

USD/CAD hangs near daily low, downside seems cushioned amid retreating oil prices
USD/CAD hangs near daily low, downside seems cushioned amid retreating oil prices

USD/CAD witnessed some selling on Tuesday amid modest USD weakness. Retreating oil prices could undermine the loonie and extend some support. Rallying US bond...

15 Feb 2022OctaFX

USD/CAD to sink towards the 1.20 level by year-end
USD/CAD to sink towards the 1.20 level by year-end

Economists at Scotiabank continue to see merits in the longer-run outlook for the Canadian dollar. They expect the USD/CAD to tank towards the 1.20 level...

28 Jan 2022OctaFX

USD/CAD remains depressed below 1.2500 amid bullish oil prices
USD/CAD remains depressed below 1.2500 amid bullish oil prices

A combination of factors prompted fresh selling around USD/CAD on Thursday. Bullish oil prices, strong Canadian CPI print continued underpinning the loonie...

21 Jan 2022FXCM

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A rate hike by the boc might not lead to lasting loonie strength
A rate hike by the boc might not lead to lasting loonie strength

Economists at Credit Suisse preview next week’s Bank of Canada (BoC) rate decision, where risks of a hike have increased. However, they still stick to their 1.25 target for the USD/CAD...

19 Jan 2022OctaFX

USD/CAD holds comfortably above 1.2800 amid stronger USD
USD/CAD holds comfortably above 1.2800 amid stronger USD

USD/CAD added to the overnight recovery gains and edged higher for the second straight day. Worries about surging COVID-19 cases benefitted the safe-haven USD and extended...

30 Dec 2021FXCM

USD/CAD prints a fresh low in the bearish correction as Covid variant risk abates
USD/CAD prints a fresh low in the bearish correction as Covid variant risk abates

USD/CAD falls to fresh daily lows on the positive sentiment in markets. The covid-19 variants are now hoped to be less severe than first anticipated. The commodity...

24 Dec 2021OctaFX

Bulls brace for bumpy road to 1.3000
Bulls brace for bumpy road to 1.3000

USD/CAD picks up bids to extend Friday’s gain around monthly top. RSI conditions can challenge bulls around upper line of short-term rising wedge. 61.8% FE...

20 Dec 2021OctaFX


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