Group 1 - The Canadian dollar (CAD) is exhibiting a "passive defensive" characteristic despite ongoing weak domestic economic data, primarily influenced by fluctuations in the US dollar (USD) [1] - The CAD is showing relative strength among non-USD currencies due to the lack of clear monetary easing signals from the Bank of Canada, leading to a "weakness selection" market logic [1] - The options market for CAD reflects a cautious but not pessimistic sentiment, with a slight dominance of put options indicating short-term downside risk, yet overall volatility remains stable without signs of panic [1] Group 2 - The USD/CAD pair is currently trading above the 20-day Exponential Moving Average (EMA) near 1.3740, indicating a consolidation trend [2] - A breakout above the August 1 high of 1.3880 could open up upward potential towards the May 15 high of 1.4000, with further targets at the April 9 low of 1.4075 [2] - Conversely, a drop below the June 16 low of 1.3540 may lead to a decline towards the psychological level of 1.3500 and the September 25 low of 1.3420 [2]