美元 / 加元
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Cautious Bulls Meet Trendline Test: USD/CAD Eyes FOMC Catalyst

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USDCAD USDCAD USD/CAD extended its recovery for the third day, trading near 1.3833 on modest USD strength following upbeat U.S. data. However, fiscal worries and expectations of Fed rate cuts in 2025 may limit upside momentum. Traders are cautious ahead of the FOMC Minutes and U.S. PCE/GDP data, while firmer Canadian inflation and oil prices could support the CAD.

Technically, the pair remains within a broad downward channel and is now approaching key resistance at 1.3856, aligned with the descending trendline. A clear rejection here could spark a bearish continuation toward 1.3711 support. A breakout above 1.3937 would invalidate the bearish channel and suggest trend reversal.

  • Resistance : 1.3856 , 1.3937

  • Support : 1.3711 , 1.3809
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