USD/CAD Price Forecast: Approaches mid-1.3600s as USD edges higher ahead of US CPI
The USD/CAD pair is seen building on this week's goodish rebound from the 1.3500 psychological mark and gaining positive traction for the third consecutive day on Friday.
  • USD/CAD attracts buyers for the third straight day amid a combination of supporting factors.
  • Weaker Oil prices undermine the Loonie and support spot prices amid a modest USD strength.
  • The technical setup favors bulls as the focus remains glued to the US consumer inflation figures.

The USD/CAD pair is seen building on this week's goodish rebound from the 1.3500 psychological mark and gaining positive traction for the third consecutive day on Friday. The momentum lifts spot prices to a four-day high, around the 1.3630 region, during the early European session, and is sponsored by a combination of factors.

The US Dollar (USD) sticks to a mild positive bias as Wednesday's upbeat US Nonfarm Payrolls (NFP) report tempered hopes for an interest rate cut by the Federal Reserve (Fed) in March. Apart from this, weaker Crude Oil prices undermine the commodity-linked Loonie and support the USD/CAD pair as traders await US consumer inflation figures.

From a technical perspective, the 100-hour Simple Moving Average (SMA) slopes lower at 1.3576, yet the spot prices hold above it, preserving a modestly bid tone. The Relative Strength Index (RSI) stands at 68, near overbought, signaling firm bullish momentum that could cool if the USD/CAD stays beneath the 1.3641 initial resistance, or the 61.8% Fibonacci retracement level of the fall from last week's swing high.

Meanwhile, the 78.6% Fibonacci retracement level at 1.3678 might keep the upside contained as the Moving Average Convergence Divergence (MACD) hovers around the zero line with a flat histogram, reinforcing a consolidative momentum profile. A break higher could extend the positive momentum towards reclaiming the 1.3700 mark. On the flip side, the 100-period SMA at 1.3576 offers initial support, and weakness below this level would temper the upside bias.

(The technical analysis of this story was written with the help of an AI tool.)

USD/CAD 1-hour chart

Chart Analysis USD/CAD

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.15% 0.15% 0.49% 0.13% 0.46% 0.17% 0.16%
EUR -0.15% 0.00% 0.36% -0.02% 0.31% 0.02% 0.02%
GBP -0.15% -0.01% 0.35% -0.03% 0.31% 0.01% 0.01%
JPY -0.49% -0.36% -0.35% -0.35% -0.04% -0.33% -0.34%
CAD -0.13% 0.02% 0.03% 0.35% 0.32% 0.02% 0.04%
AUD -0.46% -0.31% -0.31% 0.04% -0.32% -0.30% -0.29%
NZD -0.17% -0.02% -0.01% 0.33% -0.02% 0.30% -0.01%
CHF -0.16% -0.02% -0.01% 0.34% -0.04% 0.29% 0.00%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

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COTAÇÕES AO VIVO

Nome / Símbolo
Gráfico
% Variação / Preço
GBPUSD
Variação 1 dia
+0%
0
EURUSD
Variação 1 dia
+0%
0
USDJPY
Variação 1 dia
+0%
0

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