USDCAD London briefing — 2026-07-23

BIAS BEARISH. H4 EMA bearish, RSI neutral mid-range supports downside bias; D1 structure neutral but no contraindication. KEY LEVELS R: 1.41, 1.415, 1.42391 | S: 1.405, 1.4001, 1.40 NEWS 🟡 Retail Sales (MoM) CAD – Thu 12:30 UTC 🟡 Retail Sales ex Autos (MoM) CAD – Thu 12:30 UTC 🟡 Employment Insurance Beneficiaries Change CAD – Thu 12:30 UTC SESSION OUTLOOK Canada data drops mid-session; weak retail could extend bearish momentum toward 1.405. Watch H1 confirmation near resistance 1.41. PRO UNLOCKS Entry zones, SL placement, TP targets, FVG sweeps, Fib extensions—unlock with

Key Levels

R: 1.41000 · 1.41500 · 1.42391

S: 1.40500 · 1.40010 · 1.40000