The USD/CAD exchange rate extended its decline, hitting an intraday low of 1.3673 and a new year-to-date low. The US Dollar Index weakened across the board under multiple bearish factors, while the Canadian Dollar remained strong supported by robust economic data. USD/CAD has fully broken below a key support zone, accelerating its downward trend after breaching the 1.3800 level. Current market sentiment is clearly bearish on the US Dollar. Uncertainties surrounding tariff policies and the strengthening expectation of Federal Reserve rate cuts have left the US Dollar lacking upward momentum. Meanwhile, strong Canadian economic data and expectations that the Bank of Canada will maintain a hawkish stance have provided solid support for the Canadian Dollar. Traders generally believe that with the obvious divergence in fundamentals, USD/CAD still has further downside potential.
Humans need to breathe, and perfect trading is like breathing—maintaining flexibility without needing to trade every market swing. The secret to profitable trading lies in implementing simple rules: repeating simple tasks consistently and enforcing them strictly over the long term.
Trading Strategy:
sell@1.3750-1.3800
TP:1.3550-1.3600
Humans need to breathe, and perfect trading is like breathing—maintaining flexibility without needing to trade every market swing. The secret to profitable trading lies in implementing simple rules: repeating simple tasks consistently and enforcing them strictly over the long term.
Trading Strategy:
sell@1.3750-1.3800
TP:1.3550-1.3600
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.