USD CAD

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.

USD/CAD drops to a fresh yearly low (1.3653) as the Bank of Canada (BoC) keeps the benchmark interest rate at 2.75%.

After the BOC's "dovish hold," USD/CAD is threatening a breakdown below key support in the 1.3700-15 area – the next support level for bears to watch is near 1.3625, the minor highs from last September

Surprises in growth and inflation have pushed the Bank of Canada into a corner, with markets now backing a hold in June. With USD/CAD bouncing at key technical support, the spotlight turns to Macklem’s post-decision tone for the next move.

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.

AUD/USD and NZD/USD climbed as the US dollar fell below 100 amid trade tensions. Key resistance levels and upcoming data will test the rally’s strength.

The weakness in USD/CAD may persist ahead of the Bank of Canada (BoC) meeting as it extends the series of lower highs and lows from last week.

Market sentiment turned sharply on Thursday as Wall Street reversed gains and the US dollar (USD) tumbled, pushing EUR/USD higher and USD/JPY lower. With Trump’s tariffs staying in place, traders are now focusing on key economic data and central bank updates for fresh direction.

USD/CAD may continue to give back the rebound from the monthly low (1.3686) as it snaps the series of higher highs and lows from the start of the week.

June has historically been a relatively strong month for EUR/USD and AUD/USD going back to the Bretton Woods Agreement in 1971 - see the other seasonal trends for June!

USD/CAD surged nearly 1.2% off the yearly low with the bulls threatening a larger breakout. Battlelines drawn on the Canadian Dollar short-term technical charts.