Price Action: USD/CAD is trading around 1.4057, extending its breakout through 1.4034 and eyeing Fib extensions toward 1.4091. The pair has rallied steadily through early October as US rates remain firm and Canadian data soften.
Technical Bias: Bullish continuation within a clean uptrend channel, confirmed by a breakout above short-term resistance and strengthening momentum signals.
Macro Drivers: A firm US yield curve and hawkish Fed speak contrast with weaker Canadian building permits and expectations for a dovish BoC into Q4. Key watch: Powell’s speech, BoC’s Rogers, and risk tone.
Strategic Stance: Bullish while above 1.4012/1.4034, targeting 1.4069–1.4091. Pullbacks are likely to find dip buyers unless Powell delivers a dovish surprise.
Technical Bias: Bullish continuation within a clean uptrend channel, confirmed by a breakout above short-term resistance and strengthening momentum signals.
Macro Drivers: A firm US yield curve and hawkish Fed speak contrast with weaker Canadian building permits and expectations for a dovish BoC into Q4. Key watch: Powell’s speech, BoC’s Rogers, and risk tone.
Strategic Stance: Bullish while above 1.4012/1.4034, targeting 1.4069–1.4091. Pullbacks are likely to find dip buyers unless Powell delivers a dovish surprise.
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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.