USDCAD

(Last Updated May 28, 2020)

Welcome to the news page for USDCAD (USDCAD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

As for trends on USDCAD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

USDCAD Moving Averages

USDCAD’s moving averages tell a multi-facted story about its trend. The 100 and 200 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bullish, while the trend over the past month and a half is bearish.

Below is a chart showing USDCAD’s price with its moving averages.

As for correlation, In terms of correlations over the past week for USDCAD, it has been most correlated with NZDCHF. If we zoom out to a two week basis, though, CADJPY is the asset most correlated to USDCAD. On the flip side, EURTRY has been the asset least correlated with USDCAD — but if we observe the prior two weeks, the asset least correlated with USDCAD has been USDHKD. See the chart below to observe the recent price action in USDCAD versus those of assets it hasn’t been well correlated with.

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