Key Highlights
- USD/CAD started a steady increase and traded above 1.4150.
- A bullish trend line is forming with support at 1.4165 on the 4-hour chart.
- Bitcoin remained supported and might attempt a fresh increase above $85,500.
- The US GDP could grow 1.5% in Q2 2026 (Preliminary).
USD/CAD Technical Analysis
The US Dollar gained bullish momentum above 1.3950 against the Canadian Dollar. USD/CAD rallied above the 1.4000 and 1.4120 resistance levels.
Looking at the 4-hour chart, the pair settled well above 1.4000, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair even tested the 1.4200 resistance.
If the bulls remain in action, the pair could rise further toward the 1.4240 level. The first major resistance might be 1.4265. A close above the 1.4265 resistance could spark another upward movement.
In the stated case, the bulls could aim for a move to 1.4350. If there is a downside correction, the pair might find bids near a bullish trend line at 1.4165.
The first major support might be 1.4100. A close below 1.4100 might accelerate the decline. In the stated case, the bears could aim for a move to 1.3980 and the 100 simple moving average (red, 4-hour).
Looking at Bitcoin, the bulls are still in action above $80,000, and they might aim for a fresh move toward the $86,500 resistance.
Upcoming Key Economic Events:
- US ADP Employment Change for Sep 2026 – Forecast 72K, versus 38K previous.
- US Gross Domestic Product for Q2 2026 (Preliminary) – Forecast 1.5% versus previous 1.5%.
