News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.15%, while traders in AUD/JPY are at opposite extremes with 73.14%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XYtMjCuS5v
  • Heads Up:🇪🇸 Business Confidence (OCT) due at 11:00 GMT (15min) Previous: 2.1 https://www.dailyfx.com/economic-calendar#2021-10-28
  • Join @CVecchioFX at 7:30 EST/11:30 GMT for his central bank monthly webinar. Register here: https://t.co/xRVdZJNZom https://t.co/FtpoHXt9D5
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 0.06% Silver: -0.07% Oil - US Crude: -1.68% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/w4aqPBlXTT
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.15% 🇬🇧GBP: 0.06% 🇳🇿NZD: 0.04% 🇨🇦CAD: -0.05% 🇪🇺EUR: -0.07% 🇦🇺AUD: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/NjljsK8zWb
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.36% US 500: 0.18% Wall Street: 0.09% Germany 30: -0.03% FTSE 100: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YjP9iuzd4y
  • 💶 Consumer Confidence Final (OCT) Actual: -4.8 Expected: -4.8 Previous: -4 https://www.dailyfx.com/economic-calendar#2021-10-28
  • 💶 Industrial Sentiment (OCT) Actual: 14.2 Previous: 14.1 https://www.dailyfx.com/economic-calendar#2021-10-28
  • 💶 Economic Sentiment (OCT) Actual: 118.6 Previous: 117.8 https://www.dailyfx.com/economic-calendar#2021-10-28
  • Join @PaulRobinsonFX at 6:00 EST/10:00 GMT for a webinar on becoming a better trader in current markets. Register here: https://t.co/rriVJ9cZOb https://t.co/4jXYvWgSfS
Canadian Dollar Outlook: USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY

Canadian Dollar Outlook: USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY

Daniel Dubrovsky, Strategist

Canadian Dollar, USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY – Technical Analysis

  • USD/CAD attempting to push above short-term falling resistance
  • AUD/CAD technical view bearish, NZD/CAD eyes inflection point
  • CAD/JPY may breakout lower but bigger picture remains neutral
Advertisement

USD/CAD Technical Outlook

USD/CAD is attempting to break above short-term descending resistance from late September. However, prices are caught in the 1.3198 – 1.3225 inflection zone as well as the 50-day Simple Moving Average (SMA). As such, a breakout above these technical barriers could reinforce prospects of the pair retesting September highs. Otherwise, the Canadian Dollar could appreciate towards 2020 lows against the US Dollar.

USD/CAD - Daily Chart

Canadian Dollar Outlook: USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY

Chart Created in TradingView

AUD/CAD Technical Outlook

The AUD/CAD technical outlook remains cautiously tilted to the downside after a ‘Death Cross’ – see below. That is when a short-term SMA (20-day) crosses under a medium-term one (50-day). The pair is retesting the 0.9396 – 0.9445 inflection zone after establishing support at 0.9251. If this zone, as well as the moving averages, hold ahead, AUD/CAD could fall back towards support. Otherwise, 2020 highs will be exposed.

AUD/CAD - Daily Chart

Canadian Dollar Outlook: USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY

Chart Created in TradingView

NZD/CAD Technical Outlook

NZD/CAD may extend gains after confirming a breakout above a bullish Falling Wedge chart pattern. However, prices may get caught up when testing the 0.8836 inflection point established back in August. If this price holds, the pair may turn lower back towards support at 0.8631. Otherwise, a push above resistance exposes the September high on the way towards current 2020 peaks.

NZD/CAD - Daily Chart

Canadian Dollar Outlook: USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY

Chart Created in TradingView

CAD/JPY Technical Outlook

CAD/JPY appears to be attempting to break under short-term rising support from September. A confirmatory downside close could place the focus on the 78.38 inflection zone. Otherwise, key resistance sits above at 80.607. In the bigger picture however, the pair could remain in a consolidative state. Prices have been oscillating between support (77.61 – 78.03) and resistance (81.91 – 81.34) since May.

CAD/JPY - Daily Chart

Canadian Dollar Outlook: USD/CAD, AUD/CAD, NZD/CAD, CAD/JPY

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES