Short‑Term Technical Outlook for EUR/USD, GBP/USD and USD/CAD

The short‑term moves among the euro, British pound and the US‑Canadian dollar pair signal a cautious market backdrop.

Euro's Pivot Point

EUR/USD is trading at 1.1546, easing after a spike to 1.1580, and hovering just below its 50‑day EMA. Watch the 1.1520 area for potential support; a break below could trigger a deeper correction.

■Support: 1.1520

■Resistance: 1.1580 (recent high)

■Short‑term bias: Unclear, a bounce is needed to revive upside.

Pound's Resilience

GBP/USD holds near 1.3492, with near‑term support at 1.3475 and the recent high at 1.3520. Elevated UK rates keep the pound relatively strong against the dollar.

■Support: 1.3475

■Resistance: 1.3520

■Risk factor: Potential breakdown after the upcoming NFP release.

CAD‑USD Tug‑of‑War

USD/CAD stabilises around 1.3948, near the 0.382 Fibonacci retracement (1.3985). Key levels are 1.3950 support and 1.4000 resistance.

■Support: 1.3950

■Resistance: 1.4000

■Rate differential: US 5.25% vs. Canada 4.75%.

■Fed hike probability: 55% chance of a September rate increase.

Markets continue to reflect the US‑Canada rate spread as a dominant force over the euro and pound. The euro’s modest softness stems from lingering US rate‑decision uncertainty, while the pound benefits from the UK’s tight monetary stance. The Canadian dollar remains highly sensitive to any Fed tightening signal; thus, USD/CAD may stay range‑bound for now, but a break above 1.4000 would confirm a bullish dollar momentum. In the broader Asia‑Pacific risk landscape, liquidity flows and regional macro data will remain the primary drivers of volatility across these three pairs.