USDCAD is mirroring the DXY’s broader trend — rebounding off oversold momentum levels last seen in 2021 and facing resistance due to softer US economic data.
• Bullish scenario: A break and hold above 1.4020 may open the way for gains toward 1.4080, 1.4150, and 1.4270.
• Bearish scenario: A decisive break below 1.3930 could trigger further downside toward 1.3830, 1.3750, and 1.3600.
Key Events to watch for next week:
- Canadian CPI on Tuesday
- Canadian Retail Sales on Friday
- US Trade Deal Developments
Written by Razan Hilal,CMT
• Bullish scenario: A break and hold above 1.4020 may open the way for gains toward 1.4080, 1.4150, and 1.4270.
• Bearish scenario: A decisive break below 1.3930 could trigger further downside toward 1.3830, 1.3750, and 1.3600.
Key Events to watch for next week:
- Canadian CPI on Tuesday
- Canadian Retail Sales on Friday
- US Trade Deal Developments
Written by Razan Hilal,CMT
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