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USD/CAD hits lows sub-1.3650 with the US-Iran ceasefire on tenterhooks

The US Dollar (USD) posts minor losses against the Canadian Dollar (CAD) on Wednesday, and is testing session lows below 1.3650 at the time of writing, following rejection at the 1.3675 area on Tuesday.

🔗 Source

💡 DMK Insight

The USD’s dip below 1.3650 against the CAD signals potential bearish momentum. Rejection at 1.3675 indicates sellers are gaining control, which could lead to further declines if this level holds as resistance. Traders should keep an eye on the broader economic indicators, especially any shifts in US interest rate expectations or Canadian economic data releases, as these could amplify volatility. If the USD breaks below 1.3600, it could trigger a wave of selling, while a rebound above 1.3675 might suggest a short-term recovery. Watch for any news that could impact these currencies, particularly around economic reports or central bank commentary, as they could shift sentiment quickly.

📮 Takeaway

Monitor the 1.3600 support level closely; a break could lead to increased selling pressure on the USD against the CAD.

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