Loonie

USD/CAD bears have remained in control but bearish breaks have been pushing less and less, begging the question as to whether a pullback may be near.

Over the past four trading sessions, USD/CAD has depreciated by nearly 1.5% in favor of the Canadian dollar, as the market anticipates the upcoming Bank of Canada (BoC) rate decision.

USD/CAD started the week with a fresh 2025 low and if we do see USD bears continue to push, the Canadian Dollar remains of interest. Next week brings BoC and employment reports from both the U.S. and Canada.

USD/CAD showed a clean test of the 1.4000 handle last week and sellers went on attack as USD weakness came back online.

USD/CAD retains bearish structure even as the USD rally advanced again last week. The big question now is whether sellers can hold it below the 1.4000 big figure.

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.

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

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.