
DXY at Key Resistance as FX Majors Lie in Wait| Weekly Technical Outlook 10 12 2026
Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.
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Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

USD/CAD rally shows signs of exhaustion despite weak Canadian jobs data, while AUD and GBP could offer CAD bears better opportunities.

The US Dollar remained strong last week even as EUR/USD started to show a series of higher-lows. USD/JPY continues to be bought on dips as the fundamental deviation between the two economies remains front-and-center.

USD/CAD is holding near fresh yearly highs, with a tight October range keeping the focus on a potential breakout through major resistance.

USD/CAD retreats from stretched highs as the US dollar rally cools, with softer yields, Canadian trade strength and crude oil in focus.

The US Dollar hit a fresh yearly high and is currently testing above a major level, but EUR/USD has already pushed into extreme territory and that begs the question around continuation potential in each market. Meanwhile, USD/JPY retains bullish short-term structure.

The trading week continues to unfold, and the Canadian dollar has begun to show signs of renewed strength in the short term. This can be seen in recent USD/CAD price action, with the pair posting a decline of roughly 0.2% over the last two sessions, allowing the Canadian currency to recover part of the ground lost in previous weeks.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

USD/CAD recovered quickly after weaker US jobs data, keeping the bullish trend in focus. A move above the June highs could accelerate the rally as inflation keeps the Fed under pressure.

U.S. 10-year Treasury yields are nearing a long-term resistance zone with overbought RSI readings, raising near-term pullback risk for the dollar.

USD/CAD has printed a clear bearish reversal pattern after an extraordinary September surge, but confirmation may depend heavily on how US Treasury yields react to Friday’s payrolls report.

The Canadian dollar continues to face one of its most challenging environments in recent months when it comes to maintaining strength against the U.S. dollar. The weakness of the Canadian currency is clearly reflected in USD/CAD, which has now recorded nine consecutive bullish sessions and gained more than 1.7% during that period.

USD/CAD has advanced in 14 of the past 15 sessions, but stretched momentum raises the stakes as major resistance and NFP come into focus.
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