USD/CAD Leads After Bouncing on Support
· Market News · QuoteReporter
USD/CAD Leads After Bouncing on Support
Published: November 21, 2025
Market Overview
The Forex market has been characterized by a series of significant events affecting major currencies. Stock futures have edged higher despite market drops due to renewed fears surrounding AI. Expectations of a December rate cut have remained tepid, adding further pressure to the market. Meanwhile, the White House is in the process of crafting an executive order to standardize federal AI regulations, a move that could potentially impact the technology and currency markets.
In Asia, the market saw a decline as SoftBank’s shares fell by over 10%, largely due to a rout in Asian chip shares propelled by Nvidia’s losses in the U.S., despite the strong Q3 earnings posted by the American AI chip company. However, Japan’s economy showed signs of resilience as October exports beat estimates on robust growth in shipments to Asia and Europe. This was followed by a $135 billion stimulus announcement aimed at boosting the economy and supporting consumers. Singapore also raised its annual growth forecast, attributing it to a better-than-expected Q3 expansion despite global trade headwinds. However, Asian markets slumped on Friday, affected by SoftBank’s tumble and a reduced likelihood of a December rate cut by the Federal Reserve due to stronger-than-expected U.S. hiring.
Major Currency Pairs Performance
| Currency Pair | Price | Daily % | Weekly % | Monthly % |
|---|---|---|---|---|
| EUR/USD | 1.15274 | +0.00% | -0.54% | -0.36% |
| USD/JPY | 157.16800 | +0.02% | +1.74% | +3.99% |
| GBP/USD | 1.30842 | +0.21% | -0.67% | -1.98% |
| USD/CHF | 0.80465 | -0.06% | +1.39% | +0.71% |
| AUD/USD | 0.64497 | +0.18% | -0.65% | -0.97% |
| USD/CAD | 1.40882 | +0.29% | +0.48% | +0.61% |
| NZD/USD | 0.55998 | -0.04% | -1.40% | -2.05% |
Performance Charts
Best Daily Performer
Technical Analysis: 1. The USD/CAD pair exhibits a moderate bullish trend, as indicated by its position near the high end of the 20-day range and continued upward movement over daily, weekly, and monthly periods.
2. Key technical levels to watch are the 50-day SMA acting as near-term support and the 200-day SMA as a longer-term resistance; the pair is currently trading between these levels.
3. Given the consistent positive trend, the short-term outlook remains cautiously bullish, however, any break below the 50-day SMA might shift the sentiment towards bearish.
Worst Daily Performer
Technical Analysis: 1. The USD/CHF pair is currently on an upward trend, indicated by a positive weekly and monthly change, and its position above the 50-day and 200-day SMAs.
2. Key technical levels to watch are the resistance trendline from the recent highs and the support trendline from the recent lows, with the 0.80 level acting as a psychological pivot point.
3. The short-term outlook is cautiously bullish due to the positive momentum, but a break below the support trendline could trigger a short-term correction.
Normalized Performance – All Majors (3 Months)
Disclaimer
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