Canada

The USD has ripped since the lows on Easter Monday but USD/CAD retains appeal for U.S. Dollar bears, and the 1.4000 resistance level is now back in-play.

Are bulls on the cusp of taking over in USD/CAD, or is this a mere pullback in a broader bearish trend?

USD/CAD remains an attractive major pair for USD weakness scenarios and a short-term descending triangle keeps the door open for breakdown potential.

USD/CAD, DXY Outlook: The U.S. Dollar Index (DXY) is maintaining a bullish setup, while markets remain in a holding pattern amid developing geopolitical tensions, tariff negotiations, and upcoming key economic reports.

U.S. Dollar bulls failed to drive a pullback and USD/CAD remains heavy after the pair reverted into its long-term range.

The longer-term range remains in-effect in USD/CAD, but the big question now is whether sellers can show follow through after a sizable reaction to resistance on Monday.

USD/CAD started off Q1 with a dramatic flair as tariffs were supposed to come into play but then spent the next two months clawing back that move.

Another key date for Trump tariffs comes into play next week after the Q2 open, with April 2nd being called ‘Liberation Day’ for the United States.

The Canadian Dollar remains a focal point in tariff talks, and USD/CAD has a bull pennant formation while CAD/JPY has shown recovery potential and EUR/CAD a pullback following a strong breakout.

USD/CAD has seen price action tighten over the past six weeks, even as the tariff topic has kept volatility flowing through several headlines.

Canada remains at the center of President Trump’s focus and despite a strong sell-off in DXY, USD/CAD has held up well, building a bull pennant over the past couple of months.