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USDCAD Losing Momentum: Bears Target Break Below 1.3550
Forex
Economic
Summary:
The USD/CAD market is trading around 1.358–1.362, showing signs of weakening after failing to sustain bullish momentum earlier this week....
Sell
CLOSEDUSDCAD
End Time
1.37150
Entry Price
1.36250
TP
1.37600
SL
1.36848 +0.00001 +0.00%
361
Points
Profit
1.36250
TP
1.36789
CLOSING
1.37150
Entry Price
1.37600
SL
Overview
On March 13, 2026 (GMT+7), USD/CAD is fluctuating near 1.36, maintaining a relatively tight trading range during the past few sessions. The pair has gradually drifted lower over the past month as the Canadian dollar strengthened amid rising commodity prices and fluctuations in the U.S. dollar index.
Canada’s currency often benefits when commodity markets perform well, particularly oil and precious metals, because these sectors represent a large portion of the country’s export revenues. Rising gold and energy prices have recently supported the Canadian dollar and contributed to downward pressure on USDCAD.
At the same time, global investors are closely monitoring macroeconomic developments in the United States, including inflation trends and Federal Reserve policy expectations. If the market anticipates slower interest-rate tightening or potential rate cuts in the future, the U.S. dollar could weaken further, reinforcing the bearish outlook for USDCAD.
This macro environment is creating a gradual shift in capital flows toward commodity-linked currencies, with the Canadian dollar benefiting from stronger demand relative to the U.S. dollar.
Market Sentiment
Market sentiment toward USDCAD is currently cautiously bearish. Institutional traders appear to be positioning for further downside as the pair struggles to maintain stability above the 1.3600 psychological level.
Although the U.S. dollar remains broadly resilient against several currencies, the Canadian dollar has recently shown relative strength due to improving commodity prices and stabilizing risk sentiment in global markets.
Additionally, traders are watching upcoming economic data releases from both Canada and the United States. Canadian employment data and oil price movements are particularly important for the CAD because they directly influence economic outlook and investor sentiment toward the currency.
Overall, the current positioning in the market suggests that traders prefer selling rallies rather than buying dips, especially while price remains below recent resistance levels.
Technical Analysis
On the M15 timeframe, USDCAD is consolidating slightly below the 1.3620 resistance zone, which has repeatedly rejected bullish attempts during recent sessions.
The Bollinger Bands (20,0,2) show moderate expansion following a recent compression phase, indicating that volatility is starting to increase. Price is currently oscillating near the middle band but failing to approach the upper band, suggesting weakening bullish momentum.
The Ichimoku Kinko Hyo (9,26,52) indicates that price is trading slightly below the Tenkan-sen and near the Kijun-sen equilibrium level. The cloud ahead is relatively flat but beginning to tilt downward, which signals a potential shift toward bearish momentum.
Meanwhile, the Stochastic Oscillator (5,3,3) has crossed downward from the upper range and is moving toward the mid-zone, suggesting that short-term selling pressure is increasing after a brief corrective rally.
If price breaks below 1.3570, the next downside liquidity zone could extend toward 1.3520–1.3500, where stronger demand may appear.
Trading Recommendation
Entry: 1.3715
Take Profit: 1.3625
Stop Loss: 1.3760
Risk Warnings and Investment Disclaimers
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