USDCAD London briefing — 2026-10-23

BIAS BEARISH. D1 trend + H1 EMA + H4 FVGs + H1 FVGs align downside; liquidity sweep of lows offers pullback risk but doesn't override structural weakness. KEY LEVELS R: 1.405, 1.41, 1.43015 | S: 1.4, 1.39973, 1.395 NEWS 🟡 CAD Retail Sales (MoM) 12:30 UTC 🟡 CAD Retail Sales ex Autos 12:30 UTC 🟡 USD S&P Global Composite PMI 13:45 UTC SESSION OUTLOOK Watch CAD data at 12:30 for momentum confirmation. PMI follows; USD strength could test resistance, but bearish structure favors lower probe into support.

Key Levels

R: 1.40500 · 1.41000 · 1.43015

S: 1.40000 · 1.39973 · 1.39500