Canadian Dollar

USD/CAD surged nearly 2% off the yearly low with the weekly range coiled just below resistance. Battlelines drawn on the Canadian Dollar short-term technical charts.

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.

USD/CAD rebounded off critical support last week, and the bulls now face the first test of resistance. Battle lines drawn on the Canadian Dollar weekly technical chart.

The past four trading sessions have been key for USD/CAD movements, with a new short-term bullish bias emerging as the pair has gained over 1.5% in favor of the U.S. dollar.

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

USD/CAD surged more than 1% off multi-month lows with the post-Fed rally now testing pivotal resistance. Battlelines drawn on the short-term technical charts.

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

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly open.

USD/CAD plunged nearly 6.9% off the yearly highs with price now ranging just above trend support at the yearly low. Battlelines drawn on the short-term technical charts.

USD/CAD bears have come on quickly but for the past three weeks have largely stalled at support of 1.3846.

Over the past two trading sessions, the USD/CAD pair has posted a slight gain of 0.5% in favor of the U.S. dollar, although the overall bias remains bearish due to the greenback’s continued weakness in recent weeks.