USDCAD

(Last Updated July 8, 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 an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

USDCAD Moving Averages

USDCAD’s moving averages tell a multi-facted story about its trend. The 20 and 200 day averages are pointing upwards, suggesting a bullish trend, while the 50 and 100 day averages are pointing downward, suggesting a bearish trend on those timeframes.

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

As for assets in the Forex asset class USDCAD has been correlated to over the past week, it has been most correlated with USDMXN. Over the past 14 days, however, the asset showing the strongest correlation to USDCAD is AUDCHF. On the flip side, USDCNH has been the asset least correlated with USDCAD — but over the past two weeks, the asset least correlated with USDCAD has been GBPAUD. 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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