- USD/CAD tests the lower boundary of the ascending channel, which suggests a potential weakening of the bullish bias.
- The pair’s price remains above both the nine-day and 14-day EMAs, indicating that bullish momentum is still in play.
- The 1.3590 level, where "throwback support turns into pullback resistance," serves as the immediate barrier.
USD/CAD trades around 1.3590 during Wednesday’s European hours. Analysis of the daily chart suggests a potential weakening of the bullish bias for the USD/CAD pair, as it is testing the lower boundary of the ascending channel pattern.
Additionally, the 14-day Relative Strength Index (RSI) is slightly below the 50 level. Further movement in the RSI will provide a clearer indication of the directional trend for the USD/CAD pair.
However, the nine-day Exponential Moving Average (EMA) is positioned slightly above the 14-day EMA, indicating that the short-term trend is stronger than the longer-term trend. The price of the USD/CAD pair remains above both the nine-day and 14-day EMAs, suggesting that bullish momentum is still in play.
On the downside, a break below the lower boundary of the ascending channel would weaken the bullish bias and lead the USD/CAD pair to test the nine-day EMA at the 1.3578 level, which aligns closely with the 14-day EMA at 1.3575. A breach below these EMAs could trigger a bearish trend, potentially pressuring the pair to move toward the six-month low of 1.3441, recorded on August 28.
Regarding the upside, the immediate barrier is at the "throwback support turns into a pullback resistance" level of 1.3590, followed by the psychological level of 1.3600. Additional resistance may emerge at the upper boundary of the ascending channel, around the 1.3700 level.
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 US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.14% | -0.34% | -0.45% | -0.06% | -0.32% | -0.54% | -0.40% | |
| EUR | 0.14% | -0.21% | -0.33% | 0.08% | -0.17% | -0.42% | -0.26% | |
| GBP | 0.34% | 0.21% | -0.09% | 0.29% | 0.04% | -0.21% | -0.03% | |
| JPY | 0.45% | 0.33% | 0.09% | 0.39% | 0.13% | -0.07% | 0.08% | |
| CAD | 0.06% | -0.08% | -0.29% | -0.39% | -0.27% | -0.48% | -0.32% | |
| AUD | 0.32% | 0.17% | -0.04% | -0.13% | 0.27% | -0.21% | -0.06% | |
| NZD | 0.54% | 0.42% | 0.21% | 0.07% | 0.48% | 0.21% | 0.15% | |
| CHF | 0.40% | 0.26% | 0.03% | -0.08% | 0.32% | 0.06% | -0.15% |
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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: No respite to the selling pressure
AUD/USD remained well on the defensive, trading in a volatile fashion that saw spot surpass the 0.6100 hurdle just to fade that uptick afterwards and revisit the 0.5980 towards the end of the NA session.
EUR/USD: Tariffs keep the sentiment subdued
EUR/USD added to Friday’s pullback and revisited the sub-1.0900 area, or two-day lows on the back of further gains in the US Dollar and the widespread demand for the safe-haven universe.
Gold recedes to four-week lows near $2,950
The persistent selling pressure is now dragging Gold prices to the area of fresh multi-week troughs near the $2,950 mark per troy ounce, always amid the continuation of the recovery in the US Dollar, highr US yields across the curve and unabated tariff tensions.
Binance founder CZ becomes strategic advisor to Pakistan's Crypto Council
The Pakistan Crypto Council appointed Binance founder and former CEO Changpeng Zhao (CZ) as a strategic advisor on Monday to provide guidance on crypto infrastructure, education and adoption for the Pakistani government and private companies.
Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.