USD/CAD: Daily MACD denotes regain of upward momentum – Société Generale

FXStreet Insights Team FXStreet

USD/CAD decline stalls near August low of 1.3440, which resulted in a short-term up move, Societe Generale’s FX analysts note.

MA near 1.3600 is likely to provide support

“USD/CAD decline stalled near August low of 1.3440; this test has resulted in a short-term up move. The pair has recently reclaimed the 200-DMA.”

“Daily MACD has entered positive territory denoting regain of upward momentum. In case a brief pullback develops, the MA near 1.3600 is likely to provide support.”

“Defence of this can result in continuation in up move gradually towards April high of 1.3840. Upper limit of the range since 2022 at 1.3950/1.3980 remains a key resistance zone.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold rebounds ahead of US ADP, will it last?

Gold finds renewed Asian bids and retests $5,230 early Wednesday after the heavy sell-off on Tuesday. The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations. Gold defends $5,000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5,342 amid bullish RSI.