USD/CAD Price Forecast: Remains below 1.4450 near immediate support at nine-day EMA

USD/CAD may encounter initial resistance at the monthly high of 1.4543.
The 14-day Relative Strength Index (RSI) is positioned above 50, supporting a bullish outlook.
Immediate support is positioned at the nine-day EMA, around the 1.4401 level.

Akhtar Faruqui FXStreet

USD/CAD retraces its recent losses, trading around 1.4440 during the European hours on Wednesday. Technical analysis on the daily chart suggests the pair remains within an ascending channel pattern, suggesting a bullish bias.

The 14-day Relative Strength Index (RSI) remains above 50, reinforcing a bullish sentiment. A continued decline could further validate the downside bias. Additionally, the USD/CAD pair remains above the nine-day Exponential Moving Average (EMA), signaling a strengthening short-term price momentum.

The USD/CAD pair could find initial resistance at the monthly high of 1.4543, which was recorded on March 4., followed by the upper boundary of the ascending channel at 1.4650. A break above this level could reinforce the bullish bias and support the pair to explore the region around 1.4793—the highest level since March 2003, recorded on February 3.

On the downside, the immediate support is located at the nine-day EMA of 1.4401 level. A break below this level could weaken the short-term price momentum and put downward pressure on the USD/CAD pair to test the 50-day EMA at 1.4322, closely aligned with the ascending channel’s lower boundary.

Further decline would weaken the bullish bias and lead the USD/CAD pair to navigate the area around the three-month low of 1.4151, last seen on February 14.

USD/CAD: Daily Chart

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 Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.04%	0.06%	0.43%	0.03%	-0.01%	-0.04%	-0.10%
EUR	0.04%		0.09%	0.45%	0.07%	0.00%	-0.01%	-0.06%
GBP	-0.06%	-0.09%		0.36%	-0.02%	-0.07%	-0.10%	-0.15%
JPY	-0.43%	-0.45%	-0.36%		-0.40%	-0.44%	-0.48%	-0.51%
CAD	-0.03%	-0.07%	0.02%	0.40%		-0.04%	-0.08%	-0.11%
AUD	0.00%	-0.01%	0.07%	0.44%	0.04%		-0.02%	-0.09%
NZD	0.04%	0.00%	0.10%	0.48%	0.08%	0.02%		-0.04%
CHF	0.10%	0.06%	0.15%	0.51%	0.11%	0.09%	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 stuck as the RBA talks tough into a slowdown

The Australian Dollar is going nowhere in a hurry, and the contradiction at its core explains why. The Reserve Bank of Australia keeps dangling the prospect of another hike, yet the economy it governs just expanded 0.3% in the first quarter, a clear step down from the prior pace. A central bank threatening to tighten into a visible slowdown is not a recipe for conviction in either direction, and the tape shows it.

USD/JPY: Japanese Yen coiled at the line, leaning on everyone but Japan

The Yen is doing very little, and that stasis is the whole story. USD/JPY sits glued near 160.00 not because Japan has found new strength, but because two outside forces are fighting to a draw over it: a US rate complex that keeps the dollar bid, and a Ministry of Finance that refuses to let the line break.

Gold declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data looms

Gold price edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.

DeFi hack losses drop 80% from 2022 peak as security defenses improve — Immunefi

Losses from decentralized finance exploits have fallen by 80% since reaching a record high in 2022, according to a report released by Immunefi. The report, which analyzed exploit-driven losses across major blockchain ecosystems between 2020 and 2025, found that DeFi protocol losses declined from $2.62 billion in 2022 to $534 million in 2024.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.