Core Viewpoint - The USD/CAD pair is under pressure, testing the support level at 1.3975, influenced by hopes for a US-China trade agreement and expectations of a Federal Reserve rate cut this week [1][3]. Group 1: Market Sentiment - Hopes for a US-China trade agreement have boosted risk appetite in the market, leading to a weaker USD against CAD [1]. - Positive remarks from US and Chinese negotiators during their meeting in Malaysia have increased optimism for a trade deal, contributing to a mild risk-on sentiment [1]. - Oil prices have stabilized above $61.00, supporting the commodity-sensitive CAD [1]. Group 2: Technical Analysis - The USD/CAD pair is facing increasing pressure, with shorts testing the bottom of the three-week trading range at the 1.3975 level [3]. - The 4-hour Relative Strength Index (RSI) has crossed below 50, and the Moving Average Convergence Divergence (MACD) has fallen below its signal line, indicating potential further declines [3]. - A confirmed break below 1.3975 could lead to a focus on the 38.2% Fibonacci retracement level at 1.3943 and the October 8 low at 1.3335, with further targets at the September 29 and 30 lows around 1.3885 [3].
君諾外匯：美元兑加元能否守住1.3975支撑？
Sou Hu Cai Jing·2025-10-27 10:00