The Canadian dollar continues to show strength despite the 25% tariff imposed by the United States. Meanwhile, the DXY opened bearish today, and with ongoing tariff uncertainty, this weakness may persist. As investors gain clarity on policy direction, CAD could further appreciate. Given this momentum, CADCHF has the potential to reach at least 0.63000. However, multiple resistance levels could come into play, making it crucial to monitor lower time frames for partial profit-taking opportunities.
Trade closed: stop reached
Despite weak consumer sentiment data from the University of Michigan and stronger-than-expected month-over-month GDP data from Canada, CAD failed to show bullish momentum, resulting in a stopped-out trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.