The USD-CAD pair is a trader’s playground, thanks to its volatility and connection to commodities. Everyone is obsessed with it because it’s like a mood ring for the market.

USD/CAD may find initial support at the nine-month low of 1.3539. The 14-day RSI is positioned below 50, strengthening bearish bias. The primary resistance appears at the nine-day EMA of 1.3639.

The USD/CAD daily chart shows the loonie continues to trade under pressure on Tuesday. Prices currently remain below the 20-day Simple Moving Average (SMA) at 1.3670 and the 50-day SMA around 1.3779.