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.
21:04 UTC
Downtrend off June high, momentum flat · RSI 43 · price 1.40096
Lower highs since double top, ranging near 1.4000.
USDCAD carved a double top near 1.4247 in mid-June and has since ground lower in a sequence of lower highs, now pressing the 1.4000 psychological support with price below both EMA20 and EMA50. The last two weeks compressed into a 1.4000-1.4090 range as CAD lagged the softer USD tone despite firm Canadian data. Rebounding oil and fading Fed-hike bets keep the pair pinned to cycle pivots ahead of Friday's dual jobs prints.
Support: 1.4000, 1.3990, 1.3930
Resistance: 1.4090, 1.4247
What it said to watch
- Daily close below 1.4000 exposes 1.3930 fair value
- Reclaim of 1.4090 triangle top negates the lower-high sequence
- Dual US NFP + Canada jobs Fri 12:30 UTC could break the 1.4000-1.4090 range
21:03 UTC
Rolling over from June high, ranging · RSI 43 · price 1.40096
Lower highs since June peak, testing 1.4000.
USDCAD rallied off the late-April low near 1.3550 to a mid-June peak at 1.4248, then rolled over into a rounded top through July and August. Price now sits below both EMA20 and EMA50 and is grinding the lower edge of a 1.4000-1.4090 range, with rebounding oil and fading Fed-hike bets weighing on the pair. The 1.4000 psychological mark is the pivot into Friday's dual US and Canada jobs prints.
Support: 1.4000, 1.3990, 1.3930
Resistance: 1.4090, 1.4248
What it said to watch
- Daily close below 1.4000 exposes fair value at 1.3930
- Reclaim of 1.4090 triangle top invalidates the rounded-top read
- Dual US NFP and Canada jobs Fri 12:30 UTC could materially shift this read