USD/CAD Price Forecast: Bounces Back from 200-Day EMA

Tina Collins

04 Apr 2025 — 1 min read

USD/CAD Price Forecast: Bounces Back from 200-Day EMA

The USD/CAD currency pair rebounded to approximately 1.4160 during European trading hours on Friday, recovering from an almost four-month low of 1.4026 reached on Thursday.

This resurgence occurred despite the announcement of reciprocal tariffs by President Donald Trump, which had initially raised concerns about the U.S. economic.

President Trump declared a 10% baseline tariff on all imports, with higher duties targeting specific trading partners.

The USD/CAD pair's decline brought it near the 200-day Exponential Moving Average (EMA) at 1.4070.

The Canadian dollar surged to a nearly four-month high, marking its largest gain since January 2023.

The loonie appreciated by 1.3% to 1.4050 per U.S. dollar, reaching an intraday high of 1.4028.

This rise was attributed to investor relief over tariff exemptions and a broader weakness in the U.S. dollar, fueled by expectations of Federal Reserve interest rate cuts.

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