USD/CAD returns below 1.3600, with YTD lows, at 1.3540 coming into view
The US Dollar extends its decline for the fourth consecutive day, with the Canadian Dollar supported by a brighter market mood, as the trade deal between the US and Japan provided some certainty about the outlook of global trade and boosted hopes of more such deals.
In the USD/CAD 2025 Forecast, FXStreet analyst Joshua Gibson suggests uncertainty and risk-off sentiment could strengthen the US Dollar (USD) early in 2025, while the Canadian Dollar (CAD) is expected to weaken in the first quarter. However, CAD investors may reassess prospects as the year progresses, focusing on the Federal Reserve (Fed) - Bank of Canada (BoC) policy dynamics.
From a technical point of view, USD/CAD could face a technical ceiling near the 1.4400 level after the Canadian Dollar's sharp 8.5% decline in 2024 sent the pair to 56-month highs. However, technical indicators like the MACD suggest caution, as short positions may only become viable once clear sell signals emerge, likely during the first quarter.
SUPPORT 1.361
SUPPORT 1.353
SUPPORT 1.361
RESISTANCE 1.357
RESISTANCE 1.355
The US Dollar extends its decline for the fourth consecutive day, with the Canadian Dollar supported by a brighter market mood, as the trade deal between the US and Japan provided some certainty about the outlook of global trade and boosted hopes of more such deals.
In the USD/CAD 2025 Forecast, FXStreet analyst Joshua Gibson suggests uncertainty and risk-off sentiment could strengthen the US Dollar (USD) early in 2025, while the Canadian Dollar (CAD) is expected to weaken in the first quarter. However, CAD investors may reassess prospects as the year progresses, focusing on the Federal Reserve (Fed) - Bank of Canada (BoC) policy dynamics.
From a technical point of view, USD/CAD could face a technical ceiling near the 1.4400 level after the Canadian Dollar's sharp 8.5% decline in 2024 sent the pair to 56-month highs. However, technical indicators like the MACD suggest caution, as short positions may only become viable once clear sell signals emerge, likely during the first quarter.
SUPPORT 1.361
SUPPORT 1.353
SUPPORT 1.361
RESISTANCE 1.357
RESISTANCE 1.355
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My Channel link
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Check my performance
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My Channel link
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Check my performance
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.