USD/CAD Price Analysis: Stays defensive above 50-SMA support


  • USD/CAD licks its wounds after the biggest daily loss in over a week.
  • 50-DMA restricts immediate downside but bearish Doji candlestick, seven-week-old resistance line probe bulls.
  • Ascending trend line from mid-November puts a strong floor under the prices.

USD/CAD seesaws around 1.3600 as bearish take a breather during early Friday morning in Asia, after the heaviest slump in eight days.

The Loonie pair’s previous fall could be linked to the bearish Doji candlestick, as well as the U-turn from the seven-week-old downward-sloping resistance line.

However, the bullish MACD signals and the 50-DMA level surrounding 1.3560 challenge the quote’s immediate downside.

In a case where the USD/CAD bears manage to conquer the 50-DMA support, the 38.2% Fibonacci retracement level of the pair’s August-October upside, near 1.3500 threshold, will be on their radars.

Even so, the pair buyers remain hopeful unless witnessing a clear downside break of an ascending support line from the mid-November, at 1.3430 by the press time.

Meanwhile, recovery moves not only need to cross the aforementioned nearby resistance line figures of 1.3665 but also cross the stated Doji’s top of 1.3700 to convince USD/CAD buyers.

Following that, a quick run-up towards the previous monthly peak surrounding 1.3810 can’t be ruled out.

Though, multiple levels surrounding 1.3850 and 1.3900 can test the USD/CAD bulls afterward, before directing them to the yearly high marked in October near 1.3980.

USD/CAD: Daily chart

Trend: Limited downside expected

Additional important levels

Overview
Today last price 1.3591
Today Daily Change -0.0060
Today Daily Change % -0.44%
Today daily open 1.3651
 
Trends
Daily SMA20 1.3422
Daily SMA50 1.3571
Daily SMA100 1.3316
Daily SMA200 1.3044
 
Levels
Previous Daily High 1.37
Previous Daily Low 1.3589
Previous Weekly High 1.3646
Previous Weekly Low 1.3381
Previous Monthly High 1.3808
Previous Monthly Low 1.3226
Daily Fibonacci 38.2% 1.3632
Daily Fibonacci 61.8% 1.3658
Daily Pivot Point S1 1.3593
Daily Pivot Point S2 1.3536
Daily Pivot Point S3 1.3483
Daily Pivot Point R1 1.3704
Daily Pivot Point R2 1.3758
Daily Pivot Point R3 1.3815

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD clings to small gains above 1.0300 ahead of Powell testimony

EUR/USD clings to small gains above 1.0300 ahead of Powell testimony

EUR/USD clings to small daily gains above 1.0300 on Tuesday, following the bearish action seen earlier in the day. The pair struggles to gather momentum as investors remain on edge while waiting for new details on US President Trump's reciprocal tariff plan and Fed Chairman Powell's testimony. 

EUR/USD News
GBP/USD stabilizes above 1.2350 as focus shifts to Powell

GBP/USD stabilizes above 1.2350 as focus shifts to Powell

GBP/USD holds steady above 1.2350 in the second half of the day on Tuesday. Markets adopt a cautious stance after US President Trump raised import duty on steel and aluminum imports to a flat 25%, limiting the pair's upside heading into Fed Chairman Powell's testimony.

GBP/USD News
Gold meets support near $2,880, looks at Powell

Gold meets support near $2,880, looks at Powell

The precious metal comes under pressure and revisits the area of daily lows near $2,880 per ounce troy amid the corrective move in the US Dollar and persistent tariff-led safe haven demand, all ahead of Chief Powell's testimony.

Gold News
Jerome Powell Speech Preview: Fed chair to address Congress as markets seek for insight on monetary policy

Jerome Powell Speech Preview: Fed chair to address Congress as markets seek for insight on monetary policy

Jerome Powell, Chairman of the United States (US) Federal Reserve (Fed), will deliver the Semi-Annual Monetary Policy Report and testify before the Senate Banking Committee on Tuesday.

Read more
Tariffs, what tariffs? Markets waver, as Trump’s tariff threats fail to dent market sentiment

Tariffs, what tariffs? Markets waver, as Trump’s tariff threats fail to dent market sentiment

Global stock markets brushed off tariff fears on Monday, however, as 25% levies on imports of steel and aluminum came into force late Monday night, which included steel and aluminum finished products, futures markets started to decline, and the S&P 500 along with the Eurostoxx 50 index are expected to open lower today as a tone of caution impacts financial markets.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025