USD/CAD Price Analysis: 50-DMA probes immediate downside above 1.3500

USD/CAD takes offers after breaking six-week-old ascending trend line support, now resistance.
The first bearish MACD signal in a month, RSI retreat suggests further downside.
50-DMA challenges bears targeting ascending support line from August.
Bulls need validation from 1.3700 to retake control.

Anil Panchal FXStreet

USD/CAD extends the previous day’s bearish move while breaking the short-term key support during early Tuesday. That said, the Loonie pair refreshes intraday low near 1.3545 by the press time.

Not only a downside break of the six-week-old ascending trend line but the biggest bearish MACD signal in a month also favor the USD/CAD sellers. On the same line could be the recently softer RSI (14), not oversold.

As a result, the pair bears are all set to conquer the 50-DMA support of 1.3537, which in turn could direct the south-run towards an upward-sloping support line from August 11, close to 1.3440 by the press time.

In a case where the USD/CAD bears keep the reins past 1.3440, a four-month-long ascending support line, close to 1.3390 at the latest, will act as the last defense of the bulls, a break of which could quickly drag the quote toward the previous monthly low surrounding 1.3225.

Meanwhile, the support-turned-resistance line from mid-November, around 1.3585, challenges the USD/CAD pair’s immediate recovery moves.

Following that, a three-week-long horizontal resistance area near the 1.3700 round figure will be crucial for the bulls, as successful trading beyond the stated hurdle won’t hesitate to cross November’s peak of 1.3808.

USD/CAD: Daily chart

Trend: Further downside expected

Additional important levels

Overview
Today last price	1.355
Today Daily Change	-0.0054
Today Daily Change %	-0.40%
Today daily open	1.3604

Trends
Daily SMA20	1.3593
Daily SMA50	1.3541
Daily SMA100	1.3414
Daily SMA200	1.3101

Levels
Previous Daily High	1.3604
Previous Daily Low	1.3604
Previous Weekly High	1.3704
Previous Weekly Low	1.3563
Previous Monthly High	1.3808
Previous Monthly Low	1.3226
Daily Fibonacci 38.2%	1.3604
Daily Fibonacci 61.8%	1.3604
Daily Pivot Point S1	1.3604
Daily Pivot Point S2	1.3604
Daily Pivot Point S3	1.3604
Daily Pivot Point R1	1.3604
Daily Pivot Point R2	1.3604
Daily Pivot Point R3	1.3604

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD stays weak below 1.3600 as USD bulls await Warsh's speech

GBP/USD is consolidating near the lower end of its weekly range, below the 1.3600 mark, during European trading hours on Thursday. The pair's downside, however, remains cushioned as traders await Fed Chair Warsh's speech on Friday for more cues about the US central bank's interest rate path before placing fresh directional bets.

EUR/USD holds range around 1.1650 as USD steadies

EUR/USD keeps its range around 1.1650 in the European session on Thursday. Hawkish ECB expectations support the pair as the US Dollar consolidates after the US PCE data-driven advance. The focus remains on Middle East developments and US Jobless Claims data.

Gold holds steady around $4,600 as traders eye Fed's Warsh for rate cues

Gold languishes near the $4,600 mark through the first half of the European session on Thursday and remains close to the weekly low it touched the previous day. The downside, however, seems limited as traders opt to wait for US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday for cues on the future policy path. The outlook, in turn, will play a key role in influencing the US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

Ripple eases to $1.40, Solana hits $100, DOGE capped below $0.10

Ripple (XRP) and Dogecoin (DOGE) are facing downside pressure after double-digit gains last week, while Solana (SOL) extends its rally to $100. The technical outlook for XRP, SOL, and DOGE points to potential upside as the broader market sustains a risk-on sentiment.

Jackson Hole kicks off after upside PCE surprise

In China, industrial profits rose 17.6% y/y to CNY 4.58tn in the first seven months of 2026, slowing from an 18.7% increase in January-June. The moderation follows several months of strong profit growth around 20% y/y, supported by higher producer prices and solid manufacturing activity.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.