USD/CAD rejected at 1.4150 resistance – Société Générale
Source Fxstreet
USD/CAD failed to clear the key 1.4150 trend-line barrier and is retreating toward the 200-DMA. A short-term bounce is possible, but a break below 1.3920/1.3880 could open the way for a broader downside move, Société Générale's FX analysts note.
Pair slips toward 200-DMA support zone
"USD/CAD failed to overcome the interim hurdle near 1.4150 representing the descending trend line drawn since January and the low of February 2025. The pair has pulled back towards the 200-DMA near 1.3920/1.3880, which is also the lower limit of an ascending channel drawn since July."
"A brief rebound is likely; cross beyond 1.4150 will be crucial for confirming a larger uptrend. Inability to defend the moving average near 1.3920/1.3880 may lead to an extended decline."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US Dollar's Decline Predicted in 2026: Morgan Stanley's Outlook on Currency VolatilityMorgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.
Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.
While Elon Musk has been preoccupied with Tesla's robotics division and securing his landmark $1 trillion compensation package, the automaker's core business—selling vehicles—faces a worsening outlook.
Asian markets experienced gains as expectations for a Federal Reserve rate cut rose, softening the dollar. Attention turns to the yen's potential for intervention, while China's Vanke navigates bond repayment challenges.
Dollar Faces Sharp Weekly Decline as Investors Shift Focus to Euro and Aussie DollarThe U.S. dollar is set for its most significant weekly drop in four months, driven by expectations of monetary easing and pressure to reduce interest rates. In contrast, the yen and Australian dollar gain traction amid shifting market dynamics.
The U.S. dollar is set for its most significant weekly drop in four months, driven by expectations of monetary easing and pressure to reduce interest rates. In contrast, the yen and Australian dollar gain traction amid shifting market dynamics.
MediaTek Inc. is heading for its strongest weekly performance in over two decades, fueled by growing investor optimism around the Taiwanese chipmaker's collaboration with Google on artificial intelligence technology.
Related Instrument
