USD/CAD Forecast, Prediction and Analysis Today

USD/CAD hovered around 1.41 on Thursday, showing signs of short-term exhaustion with a likely pullback to 1.40 before potential bullish reentry amid trade volatility.

The U.S. dollar continued its bullish run against the Canadian dollar above 1.41, driven by rate differentials and trade tensions, with 1.4250 as the next target.

USD/CAD extended its rally on Tuesday, supported by rate differentials and soft oil prices, with bulls eyeing a move toward the 1.4250 resistance level.

The US dollar rallied sharply against the Canadian dollar on Monday, with interest rate differentials and central bank outlooks fueling continued upside.

The Canadian dollar saw short-term strength after the BoC rate cut, but USD/CAD remains poised for a bullish breakout above 1.40 if FOMC guidance favors the greenback.

USD/CAD rebounded on Monday, holding firm near 1.40 as traders brace for interest rate decisions from both the Fed and Bank of Canada amid ongoing bullish pressure.

The USD/CAD pair is consolidating above 1.40 with bullish momentum intact, as soft U.S. inflation data is offset by a weaker Canadian economic outlook.

The USD/CAD pair pulled back from the 1.41 resistance level as strong Canadian CPI data reduced interest rate cut expectations, but bullish pressure remains above 1.40.

The US dollar climbed against the Canadian dollar on Monday, testing the key 1.40 resistance as market sentiment remains bullish amid economic divergence.

The US dollar is gaining against the Canadian dollar, supported by a golden cross and weak Canadian fundamentals, with a bullish target set at 1.4250.

The US dollar continues to pressure the Canadian dollar, holding above 1.40 as a golden cross forms, suggesting further upside toward the 1.42 level.

The US dollar extended gains against the Canadian dollar on Tuesday, breaking key resistance as a looming golden cross and economic headwinds boost USD momentum.

The US dollar has rallied a bit during the early part of the session on Monday, as we are breaking above the 1.40 level. The market has been very important. All things being equal, we had recently been consolidating between the 1.37 level and the 1.39 level but broke out of there, we tested 1.39 for support and we have continued to go higher. The 1.40 level is likely to be an area where I think we now might see a bit of market memory and perhaps possibly a little bit of a floor we'll just have to see the 50 day EMA is starting to get ready to cross above the 200 day EMA kicking off the so-called golden cross. And that of course is very bullish for longer term traders. So that'll be interesting to see how that plays out. I still think that the dollar is eventually going to find its way to the 1.4250 level and the interest rate differential means that you get paid at the end of every day. So, keep that in mind as well.

The US dollar initially did rally a bit during the early hours here on Wednesday but gave back those gains to show signs of life again. Ultimately, this is a market that I think is going to continue to be very noisy in general. But I also recognize that we have a situation where we are basically hanging around between the 1.39 level on the bottom and the 1.40 level on the top. I do think that eventually the US dollar ends up outperforming the Canadian dollar and we do break above the 1.40 level. If and when we do that, I think we've got a situation where traders will really start to look towards the 1.4250 level. This would take some momentum, but I think it could come into play.

The US dollar initially did try to rally a bit during the trading session here on Tuesday but then gave back gains to show signs of exhaustion. I think ultimately this is a pair that continues to go lower as we will go looking for more substantial support, but I think there's enough support to keep this market afloat. The 1.39 level is support, and a bounce from there makes sense as I think we are going to continue to just trade between 1.39 on the bottom and 1.40 on the top. If we can take out the 1.40 level to the upside, I think at that point in time the US dollar goes looking to the 1.4240 level. The 200-day EMA sits at the 1.3869 level and rallying. The 50 day EMA rallying from here could kick off a uh golden cross, which of course is a longer term buy signal. Quite frankly, the Canadians have shed jobs while the United States is still adding them, at least we think. And of course, the Canadian economy is suffering at the hands of a lot of concerns, not the least of which is a trade war with the Americans.