The USD/CAD currency pair is experiencing a downward shift as the US Dollar retreats from last week's highs exceeding 1.4100. On Wednesday, sellers are increasingly testing the critical support level at 1.4070. This movement is driven by a series of delayed US data releases, which has prompted speculation among Federal Reserve doves for potential monetary easing.
The exchange rate dynamics reflect growing concerns over the US economic outlook, influencing market sentiment and trading strategies. If the support at 1.4070 fails to hold, bears could gain further momentum, potentially paving the way for lower levels in upcoming sessions. Traders will be closely monitoring the situation as any significant break could reshape the short-term landscape for the USD/CAD pair.
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Data Source: FX Killer Analysis Team Updated: 2025-11-26 11:18
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.