Forex
Home›Forex›Major Pairs›USD/CAD steadies near 1.4160 as traders eye Canada jobs
USD/CAD steadies near 1.4160 as traders eye Canada jobs
The pair recovered from a three-week low near 1.4135, with analysts flagging Canadian monthly employment data as the next potential catalyst.
The USD/CAD pair edged higher in early European trade after recovering from a three-week low near 1.4135, moving around 1.4160 and largely holding steady for the day, according to FXStreet.
Traders are looking ahead to Canadian monthly employment details for a fresh impetus. FXStreet also tied the move to a weaker tone in crude oil prices, which can weigh on the commodity linked Canadian dollar, while the US dollar firmed after bouncing off a one-week low.
FXStreet said the US dollar support comes from expectations for at least one Federal Reserve interest rate hike in 2026, alongside concerns about a potential escalation of Middle East tensions. On the technical front, the analysis highlighted acceptance below the 100 period simple moving average on the four hour chart, with MACD marginally negative and RSI around 43.
Key levels in the FXStreet view include resistance near the 100 period SMA around 1.4190, where a clear break is needed to ease bearish pressure. On the downside, 1.4100 is seen as immediate support before 1.4025 and the 1.4000 psychological level.
Latest closeWTI crude $71.84 ▼2.3%