Bank of Canada Governor Tiff Macklem has commended US Federal Reserve Chair Jerome Powell’s for managing of a difficult environment well, and pointed out that political attacks on the Fed from President Trump are a concern for the BoC too.
For USDCAD, this means traders might start viewing Canada’s central bank as acting more independently, instead of just following the Fed. This could create more two-way trading opportunities.
On the 4-hour chart, USDCAD has shown clear range dynamics: immediate resistance sits near 1.3845–1.3880, a zone repeatedly rejecting advances through September, while the 1.3720 area has acted as strong demand. The higher lows since mid-September could suggest buyers are building strength though.
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