USD/CAD Price Forecast: Falls to near 1.3550, 15-month lows

USD/CAD may target initial support at 1.3539, its lowest level since October 2024.
The 14-day Relative Strength Index at 26 signals oversold conditions and heavy selling pressure.
The primary resistance sits at the nine-day EMA 1.3716.

Akhtar Faruqui FXStreet

USD/CAD moves little after registering nearly 1% losses in the previous session, trading around 1.3570 during the European hours on Wednesday. The technical analysis of the daily chart shows the pair extends below the falling nine-day Exponential Moving Average (EMA) at 1.3715 and the 50-day EMA at 1.3818, maintaining a bearish tone.

The short-term average tracks beneath the medium-term gauge, reinforcing downside risk. Below the nine-day EMA and 50-day EMA, rallies would remain capped, and the trend favors lower highs.

The 14-day Relative Strength Index (RSI) is at 26 (oversold), which warns of stretched selling pressure, though an uptick back above 30 could trigger a brief pause. Momentum remains weak with RSI sub-30, so rebounds could be corrective rather than trend-changing.

The USD/CAD pair may target the initial support at 1.3539, the lowest since October 2024. Further decline will expose the next support at 1.3419, the lowest since February 2024.

On the upside, the primary resistance lies at the nine-day EMA of 1.3716, followed by the 50-day EMA at 1.3818. A break above these averages would cause the emergence of a bullish bias and support the USD/CAD pair to target the seven-week high of 1.3928, reached on January 16.

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

Canadian Dollar Price Today

The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Swiss Franc.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.44%	0.43%	0.24%	-0.07%	0.17%	0.29%	0.71%
EUR	-0.44%		-0.01%	-0.22%	-0.51%	-0.27%	-0.15%	0.26%
GBP	-0.43%	0.01%		-0.19%	-0.49%	-0.26%	-0.14%	0.28%
JPY	-0.24%	0.22%	0.19%		-0.29%	-0.05%	0.07%	0.49%
CAD	0.07%	0.51%	0.49%	0.29%		0.24%	0.36%	0.78%
AUD	-0.17%	0.27%	0.26%	0.05%	-0.24%		0.13%	0.53%
NZD	-0.29%	0.15%	0.14%	-0.07%	-0.36%	-0.13%		0.41%
CHF	-0.71%	-0.26%	-0.28%	-0.49%	-0.78%	-0.53%	-0.41%

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 Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

GBP/USD hovers around daily lows near 1.3450

GBP/USD trades with decent losses on Thursday, revisiting the 1.3450 zone. Cable’s resumption of the selling interest comes after two daily advances in a row and follows the improved sentiment around the Greenback amid fresh concerns in the Middle East.

Euro weakens against US Dollar amid Middle East tensions

EUR/USD faces some renewed downside pressure and retests the low 1.1500s in the latter part of Thursday’s NA session. The move lower in spot comes after two daily advances in a row and follows the fresh bid bias in the US Dollar amid the re-emergence of some effervescence in the Middle East. Moving forward, US NFP data will take centre stage on Friday.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

US Dollar: NFP and inflation mix complicate Fed path

BNY strategists John Velis and David Tam highlight the July Nonfarm Payrolls (NFP) report and upcoming Consumer Price Index (CPI) releases as key inputs for the Fed. They see consensus around 80,000 jobs, with a breakeven near 50,000 to keep unemployment steady. A weaker print could lower 2-year yields and rate-hike expectations.

Markets question Fed's inflation resolve after July FOMC meeting

Federal Reserve Chairman Kevin Warsh continues to project a tough stance on inflation, repeatedly promising to restore price stability and keep inflation anchored at the central bank's longstanding 2% target. But according to Mike Maharrey in this week's Money Metals Midweek Memo, markets are beginning to judge the Fed by its actions rather than its rhetoric—and so far, they aren't convinced.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.