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CAD: USDCAD Spike Pared After Hitting Post-2020 High

CAD
USCanadaBulletMarketsForeign Exchange BulletsNorth America

With its move to 1.4595 after headlines that US President Trump planned to impose 25% tariffs on goods from Canada, USDCAD initially blew through resistances identified by our tech analyst at 1.4516, 1.4539 and 1.4564, en route to a fresh post-2020 high. It's since settled back down to 1.4500 alongside a broader market reversal of the initial risk-off move.

  • Our tech analyst notes that the trend condition is bullish and a clear breach of 1.4516 would confirm a resumption of the bull cycle.
  • In case of a renewed spike beyond the above levels, next up is 1.4667 2.0% 10-dma envelope.
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With its move to 1.4595 after headlines that US President Trump planned to impose 25% tariffs on goods from Canada, USDCAD initially blew through resistances identified by our tech analyst at 1.4516, 1.4539 and 1.4564, en route to a fresh post-2020 high. It's since settled back down to 1.4500 alongside a broader market reversal of the initial risk-off move.

  • Our tech analyst notes that the trend condition is bullish and a clear breach of 1.4516 would confirm a resumption of the bull cycle.
  • In case of a renewed spike beyond the above levels, next up is 1.4667 2.0% 10-dma envelope.