Every read JAFX AI made on the USD/CAD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:03 UTC
Uptrend faded, rolling over · RSI 44 · price 1.40161
Lower highs since June peak, pressing 1.4000.
The April-June rally from 1.3550 to the 1.4248 June high has stalled into a rounded top, with a chain of lower highs (1.4126 in July) dragging price below both the EMA20 and EMA50. Over the last several sessions USDCAD has drifted into the 38.2% retracement of that rally around 1.3990-1.4000, with a hawkish-Fed USD offset by firmer Canadian GDP and oil-driven CAD swings. Consolidating just above the 1.4000 psychological mark, matching the June low near 1.3991.
Support: 1.3990, 1.3940
Resistance: 1.4110, 1.4248
What it said to watch
- Daily close below 1.3990 confirms a lower low and breaks the June-low pivot
- Reclaim of 1.4110 barrier would negate the lower-high chain
- Canada jobs Fri Aug 7 is the next real catalyst for this pair
21:03 UTC
Uptrend stalled, correcting lower · RSI 43 · price 1.40161
Double top ~1.4247, lower highs since June.
USDCAD rallied off the late-March low near 1.3550 into a mid-June double top around 1.4247, then rolled into a multi-week correction that has carved lower highs since. Price now trades below EMA20 and EMA50 on D1, probing the 1.4000 psych level and the 38.2% retracement of the March-June swing, with the June-low zone near 1.3991 the immediate downside pivot. CAD stays oil- and rate-spread-driven while USD holds firm on the hawkish-Fed regime, with Canada jobs Friday the next catalyst.
Support: 1.4000, 1.3991, 1.3950
Resistance: 1.4110, 1.4247
What it said to watch
- D1 close below 1.3991 confirms a lower low and extends the correction
- Reclaim of 1.4110 barrier negates the near-term lower-high sequence
- Canada jobs Fri could materially shift the CAD read