USD/CAD Price Forecast: Tests 1.3700 support near moving averages

USD/CAD could test the upper rectangle channel boundary around 1.3750.
The 14-day Relative Strength Index holds in the mid-50s, signaling strengthening buying pressure.
The immediate support lies at the 1.3700 psychological level, aligned with the nine- and 50-day EMAs.

Akhtar Faruqui FXStreet

USD/CAD continues to lose ground for the second successive session, trading around 1.3710 during the Asian hours on Monday. The near-term bias holds mildly bullish as spot advances above the nine- and 50-day Exponential Moving Average (EMA), indicating an emerging upward correction within a broader range.

Momentum supports this bid tone, with the 14-day Relative Strength Index (RSI) holding in the mid-50s after recovering from sub-40 readings, signalling improving buying pressure rather than overbought conditions.

The technical analysis of the daily chart shows the USD/CAD pair remaining close to the upper boundary of the rectangle channel pattern around 1.3750. A successful break above the channel would offer confirmation of a bullish bias and support the pair to target the three-month high of 1.3928, recorded on January 16.

On the downside, the immediate support lies at the psychological level of 1.3700, aligned with the nine- and 50-day EMAs of 1.3697 and 1.3696, respectively. Further declines below these averages would put downward pressure on the USD/CAD pair to navigate the region around the lower boundary of rectangle 1.3540.

(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 Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.21%	0.16%	0.08%	-0.11%	0.63%	0.45%	0.15%
EUR	-0.21%		-0.06%	-0.11%	-0.33%	0.53%	0.23%	-0.07%
GBP	-0.16%	0.06%		-0.06%	-0.27%	0.59%	0.29%	-0.02%
JPY	-0.08%	0.11%	0.06%		-0.18%	0.54%	0.29%	0.06%
CAD	0.11%	0.33%	0.27%	0.18%		0.71%	0.42%	0.22%
AUD	-0.63%	-0.53%	-0.59%	-0.54%	-0.71%		-0.29%	-0.47%
NZD	-0.45%	-0.23%	-0.29%	-0.29%	-0.42%	0.29%		-0.26%
CHF	-0.15%	0.07%	0.02%	-0.06%	-0.22%	0.47%	0.26%

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 surges to multi-day peaks past 1.3250

GBP/USD leaves behind Friday’s small pullback and advances past 1.3250 level, or five-day highs, on Monday. Cable’s upside follows extra losses in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD picks up extra pace north of 1.1400

EUR/USD extends its recovery past 1.1400 the figure as the NA session draws to a close on Monday. Indeed, the pair advances for the third straight day amid the persistent offered bias in the US Dollar. Meanwhile, market participants keep gearing up for the ECB Forum in Sintra and the release of critical US labour market data.

Gold struggles to attract investors

Gold remains under marked selling pressure, holding on just above the key $4,000 mark per troy ounce at the beginning of the week. The precious metal reverses two daily advances in a row as renewed effervescence in the Middle East revive inflation concerns and bolster Fed rate hike expectations.

Strategy unveils plan allowing Bitcoin sales to fund stock buybacks, dividends and reserves

Strategy (MSTR) has unveiled a Digital Credit Framework to strengthen the company’s financial standing. Under the new framework, the world’s largest corporate holder of Bitcoin (BTC) will pivot from its previous accumulation strategy, opting to sell BTC in order to boost liquidity, fund dividend payments, execute stock buybacks, and strengthen cash reserves.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.