Canadian Dollar Technical Outlook: USD/CAD Multi-Timeframe Analysis
The Canadian dollar has fallen nearly 2.8% from its June high, down five of the last six weeks against the U.S. dollar. Michael Boutros, Senior Market Analyst at StoneX, reads the Canadian dollar across the weekly, daily and four-hour charts. The yearly uptrend off the April lows broke last week, and the decline stalled on a cluster of long-term support where the 52-week and 200-day moving averages converge with a retracement of the yearly range. Price has held that zone for four sessions while a weekly opening range takes shape. Federal Reserve minutes, Canadian retail sales and U.S. purchasing managers' data all land before the week closes.
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Key USD/CAD Economic Data Releases

Active Short-term Technical Charts
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--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex