Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD slips on softer US payrolls but near-term direction hinges on 1.4154 support

• USD/CAD slipped lower on Thursday as the U.S. dollar came under broad selling pressure following a weaker-than-expected U.S. non-farm payrolls report.

• The pair fell to an intraday low   before stabilizing, with the 1.4154 level emerging as a crucial near-term support area. Buyers stepped in around this zone, helping the pair recover modestly.

•The inability to secure a decisive break below 1.4154 suggests USD/CAD remains in a consolidation phase for now, with traders awaiting fresh economic data or policy signals to determine the next directional move.

• On the trade front, market sentiment improved after the U.S. shifted its focus toward the scheduled annual review of the USMCA, reducing concerns over a potential withdrawal from the trade agreement.

•  Immediate resistance is located at 1.4230(Daily high), any close above will push the pair towards 1.4275(23.6%fib).

• Support is seen at 1.4154  (38.2%fib) and break below could take the pair towards 1.4097(SMA 20).

Recommendation: Good to buy around 1.4160, with stop loss of 1.4140 and target price of 1.4230

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.