USD/CAD Price Forecast: Holds above 1.3700 to test nine-day EMA

USD/CAD may fall toward the descending channel support at 1.3560.
The 14-day Relative Strength Index falls to 44, signaling strengthening bearish momentum.
The immediate barrier lies at the nine-day EMA of 1.3714.

Akhtar Faruqui FXStreet

USD/CAD continues its winning streak for the fourth successive day, trading around 1.3710 during the early European hours on Friday. However, the technical analysis of the daily chart indicates the pair is remaining within the descending channel pattern, signaling a persistent bearish bias.

The USD/CAD pair holds a modest bearish near-term bias as spot remains capped under the nine-day Exponential Moving Average (EMA) and the 50-day EMA. The pair has been fading from last month’s highs while the 14-day Relative Strength Index (RSI) slips to 44, hinting at strengthening bearish momentum and leaving the downside vulnerable as long as price trades beneath these overlapping EMA barriers.

On the downside, the USD/CAD pair may navigate the region around the lower boundary of the descending channel around 1.3560. A sustained break below the channel would reinforce the bearish bias and put downward pressure on the pair to fall toward 1.3473, the lowest since September 2024.

The immediate barrier lies at the nine-day EMA of 1.3714, followed by the 50-day EMA at 1.3750, aligned with the upper descending channel boundary. Further advances above this confluence resistance zone would cause the emergence of the bullish bias and support the USD/CAD pair to explore the region around the four-month high of 1.3967, reached in December 2025.

(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 weakest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.06%	0.04%	-0.03%	0.08%	0.10%	0.12%	0.16%
EUR	-0.06%		-0.01%	0.00%	0.03%	0.03%	0.06%	0.10%
GBP	-0.04%	0.00%		-2.13%	0.04%	0.06%	0.09%	0.11%
JPY	0.03%	0.00%	2.13%		0.11%	0.12%	0.14%	0.17%
CAD	-0.08%	-0.03%	-0.04%	-0.11%		0.00%	0.02%	0.07%
AUD	-0.10%	-0.03%	-0.06%	-0.12%	0.00%		0.01%	0.05%
NZD	-0.12%	-0.06%	-0.09%	-0.14%	-0.02%	-0.01%		0.04%
CHF	-0.16%	-0.10%	-0.11%	-0.17%	-0.07%	-0.05%	-0.04%

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.

AUD/USD consolidates above 0.7000/two-month low; bearish potential intact

The AUD/USD pair oscillates in a narrow range during the Asian session, and moves little following the release of mixed inflation figures from China. Spot prices currently trade around the 0.7025 region, nearly unchanged for the day, and remain within striking distance of a nearly two-month low set on Tuesday. Renewed hostilities between the US and Iran temper hopes for a deal to end the over three-month-old war.

Japanese Yen languishes despite wholesale inflation accelerates in May

USD/JPY flatlines after experiencing volatility, trading around 160.40 during the Asian hours on Wednesday. The pair continues to hold its ground, reflecting a struggling Japanese Yen that has failed to find support despite a massive acceleration in wholesale inflation. Driven by surging energy costs linked to the ongoing Middle East conflict, Japan’s Producer Price Index jumped 6.3% year-over-year in May. This hot printing comfortably outpaced April’s upwardly revised 5.3% figure and surpassed market consensus of 5.5%, marking the fastest pace of wholesale price growth in three years.

$4,200: Gold retains bearish bias near March low ahead of US CPI

Gold recovers slightly after touching a fresh low since March 23, though it retains a bearish bias near the $4,200 mark through the early European session. Renewed hostilities between the US and Iran fuel inflationary concerns and bolster bets for more hawkish central banks, which is seen as a key factor driving flows away from the non-yielding yellow metal. Furthermore, the decline could be attributed to technical selling following the recent breakdown below the very important 200-day SMA.

Cardano's downtrend deepens despite on-chain bottoming signals

Cardano edges lower to $0.1600 signaling a potential extension of the 30% loss from last week. The altcoin remains under intense selling pressure, weighing on its retail support. Still, a spike in dormant supply re-entering circulation signals that the selling pressure has run its course, a pattern that often precedes a rebound.

US CPI data set to show inflation at three-year high in May, backing Fed hawkish tilt

The US Bureau of Labor Statistics will publish the May Consumer Price Index (CPI) data on Wednesday. The report is expected to show another step up in consumer inflation, driven by the persistently high Oil prices due to the ongoing crisis in the Middle East.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.