Oil, BoC, and US tariffs: a perfect storm for a USDCAD decline
The Canadian dollar continues to strengthen, with the USDCAD rate testing the 1.3690 level. Discover more in our analysis for 26 January 2026.
USDCAD technical analysis
On the H4 chart, the USDCAD pair formed a Hammer reversal pattern near the lower Bollinger Band. At this stage, it may develop a corrective wave following the signal. Since prices remain within a descending channel, a pullback towards the nearest resistance at 1.3710 can be expected.
The Canadian dollar continues to strengthen amid expectations of the BoC interest rate decision.
Read more - USDCAD Forecast
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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The RoboForex Team