USDCAD London briefing — 2026-10-16

BIAS BEARISH. D1 + H4 + H1 trend confluence, H4 and H1 fair value gaps, and RSI(14) neutral support downside bias without oversold conditions trapping buyers. KEY LEVELS R: 1.42, 1.425, 1.43015 | S: 1.415, 1.41, 1.39828 NEWS 🟡 Housing Starts YoY (CAD) – 12:15 UTC 🟡 Canadian Portfolio Investment in Foreign Securities – 12:30 UTC 🟡 Foreign Portfolio Investment in Canadian Securities – 12:30 UTC SESSION OUTLOOK Low-impact data releases allow technicals to dominate. Watch for continuation toward support with H1 FVGs as targets.

Key Levels

R: 1.42000 · 1.42500 · 1.43015

S: 1.41500 · 1.41000 · 1.39828