USDCAD London briefing — 2026-07-31

BIAS BEARISH. H4 and H1 EMAs aligned bearish; RSI neutral but price below 1.405 resistance confirms downside structure. KEY LEVELS R: 1.405, 1.41, 1.41798 | S: 1.4, 1.39911, 1.395 NEWS 🟡 CAD GDP (MoM) 12:30 UTC 🟡 USD Employment Cost Index 12:30 UTC 🟡 USD Chicago PMI 13:45 UTC SESSION OUTLOOK Data hits mid-session. Watch CAD GDP for strength; weak data extends bearish bias. USD prints may tighten volatility into support.

Key Levels

R: 1.40500 · 1.41000 · 1.41798

S: 1.40000 · 1.39911 · 1.39500