USD/CAD Technical Analysis
The US dollar has rallied a little bit to the upside against the Canadian dollar during the trading session, but it’s also worth noting that we are facing a little bit of hesitation at the 1.3850 level. Short-term pullbacks I think may make a certain amount of sense, but the 200-day EMA underneath should offer a bit of a floor. I do still believe in the US dollar over the Canadian dollar, but interest rates have drifted a little bit lower from the start of the day. It’s probably going to cause a little hesitation.
USD/CHF Technical Analysis
The US dollar against the Swiss franc is of course pulling back a little bit as well, but it also sees some support at the 50-day EMA. So, I do like the idea of buying this pair, but we’ll just have to wait and see whether or not we buy it closer to the 0.78 level on a bounce, or if we can break above the 0.79 level. Either way, a little bit of patience probably goes a long way.
USD/JPY Technical Analysis
The US dollar continues to grind higher against the Japanese yen but be aware that the 160-yen level is an area that the Bank of Japan intervened at previously and it could cause a little bit of the same type of action. We’ll just have to wait and see. So far, the Japanese have been fairly quiet. So only time will tell.
USD/CAD Price Forecast
Every new USD/CAD analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all USD/CAD forecastsThat being said, if we do get some type of pullback, I am willing to buy dips on the right-hand side of the V to make sure that I am following momentum re-entering the market. I have no interest in selling this pair. The interest rate differential, despite the fact that the interest rates fell in America, continue to favor the US dollar by quite a wide margin.
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