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USD/CAD – Technical Analysis

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Canada has officially entered technical recession, and now the Loonie is facing a critical test against its U.S. counterpart. With Canadian growth weakening, rate-cut odds rising, and the U.S. dollar still supported by a very different technical backdrop, USD/CAD may be approaching an important directional moment. In this analysis, we examine the latest currency signals, compare the Canadian dollar against the U.S. dollar, and outline the key technical levels that could define the next major move. CANDLES USD/CAD Disclosure: As a Canadian, I would prefer a different message from the charts. Unfortunately, the technicals are pointing elsewhere. USD/CAD became increasingly bullish after the May monthly close, with technicals supporting the possibility of additional upside. The daily frame climbed above the 200 DMA. The weekly frame formed an 8/20 EMA bullish cross shortly after completing Three White Soldiers. The monthly frame closed with a solid Piercing Line and now has fair…

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