USD/CAD Price Analysis: On the way to monthly support near 1.3570

USD/CAD remains pressured around fortnight low, keeps Friday’s break of 21-DMA.
The first daily close below 21-DMA in six weeks, bearish MACD signals favor sellers.
One-week-old descending trend line adds to the upside filters.

Anil Panchal FXStreet

USD/CAD fades the bounce off a two-week low, marked earlier in the day, as it retreats to 1.3645 during Monday’s Asian session. In doing so, the Loonie pair keeps Friday’s downside break of the 21-DMA, the first in over a month.

In addition to the 21-DMA breakdown, the bearish MACD signals and a downward sloping RSI, not oversold, also direct the USD/CAD sellers towards an ascending support line from late September, around 1.3570 by the press time. However, the 1.3600 threshold may act as an immediate rest for the bears.

In a case where the quote breaks the aforementioned support, the monthly low and the 38.2% Fibonacci retracement of the pair’s August-October upside, near 1.3500, will be crucial to watch for the further downside.

Should the USD/CAD bears dominate past 1.3500, an upward-sloping support line from August, close to 1.3320 by the press time.

Alternatively, a daily closing beyond the 21-DMA level of 1.3716 appears necessary for the pair buyer’s return.

Even so, a descending resistance line from October 13 and the previous monthly high, respectively around 1.3815 and 1.3840, will be tough challenges for the USD/CAD bulls.

USD/CAD: Daily chart

Trend: Further downside expected

Additional important levels

Overview
Today last price	1.3645
Today Daily Change	0.0005
Today Daily Change %	0.04%
Today daily open	1.364

Trends
Daily SMA20	1.3724
Daily SMA50	1.3361
Daily SMA100	1.3122
Daily SMA200	1.2911

Levels
Previous Daily High	1.3855
Previous Daily Low	1.363
Previous Weekly High	1.3885
Previous Weekly Low	1.363
Previous Monthly High	1.3838
Previous Monthly Low	1.2954
Daily Fibonacci 38.2%	1.3716
Daily Fibonacci 61.8%	1.3769
Daily Pivot Point S1	1.3562
Daily Pivot Point S2	1.3483
Daily Pivot Point S3	1.3337
Daily Pivot Point R1	1.3787
Daily Pivot Point R2	1.3933
Daily Pivot Point R3	1.4012

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.

AUD/USD consolidates above 0.7000; remains close to monthly top

AUD/USD holds steady above 0.7000 during the Asian session on Friday, trading just below the previous day's monthly low amid diverging forces. A hawkish RBA continues to support the Aussie, while the recent decline in US bond yields keeps the US Dollar depressed near a three-week low. However, oil-driven inflation fears reinforce Fed hike bets, which, along with geopolitical risks, could benefit the safe-haven buck and cap the currency pair.

USD/JPY drops to an over one-month low, around 156.00 after Japan's CPI report

USD/JPY attracts heavy follow-through selling on Friday, dropping to the 156.00 neighborhood, a one-month low, as Japan's National CPI report reaffirms bets for an imminent BoJ rate hike and boosts the Japanese Yen. Moreover, the recent steep fall in US bond yields counters hawkish Fed expectations and geopolitical risks, undermining the US Dollar and exerting additional pressure on the currency pair.

Gold seems vulnerable near August lows; eyes $4,000 break amid Fed hike bets

Gold touches a fresh low since early August during the Asian session on Friday, eyeing the key $4,000 psychological mark. Oil-driven inflation fears reinforce December Fed hike bets and continue to undermine the non-yielding bullion, which fails to benefit from the recent steep fall in US bond yields and the prevailing US Dollar selling bias. Moreover, the overnight breakdown below a trading-range support backs the case for further depreciation.

Bitcoin falls 4% as chip stocks plunge 6.7% and oil surges

Bitcoin (BTC) fell below $82,000 on Thursday as the crypto market joined a broader market sell-off driven by concerns over artificial intelligence (AI) spending, rising oil prices and escalating geopolitical tensions involving the US and Iran. The top crypto fell 4% to $81,130 as macro fears weighed on prices across the digital asset market.

The Bank of England just got its clearest reason to hike. Here's what it's really watching

UK inflation as measured by the CPI accelerated to 3.5% YoY in September, up from 3.1% in August, according to the Office for National Statistics. This is the highest level since October 2025, exceeding economists' expectations of 3.4% and pushing inflation further from the BoE's 2% target.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.