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fxJul 31, 2026, 8:18 AM

USD/CAD Steadies Above June Low, Bears Eye 1.4000 Breakdown

The pair consolidates near its lowest since June 17 as sellers wait for a clear break below 1.4000.

USDCAD

The USD/CAD pair saw modest two-way moves during early European trading on Friday, holding just above the multi-week low reached in the previous session. The latest leg down took spot to its weakest level since June 17, keeping the selling pressure intact.

Market focus remains on the 1.4000 handle, which now stands as immediate support. Bears appear poised to target a durable break below that level, which could open the door for a deeper slide toward the next demand zone.

A lack of fresh catalysts kept the pair in a narrow range as traders assessed the near-term path. Follow-through selling below 1.4000 would be needed to reinforce the bearish bias.

Source: FXStreet Forex News