USDCAD

USDCAD extended the bullish rally. From a technical perspective, the overall trend has remained bullish over the past several weeks. Currently, the currency pair is trading above 1.4180. The bulls have maintained control with a strong bullish continuation candle; however, the price is approaching a critical resistance zone between 1.4200 and 1.4230, where significant selling pressure may emerge.

Key Indicators

• Despite the strong rally, the 4-hour chart reveals weak upward momentum, showing signs of exhaustion on lower timeframes. Therefore, short‑term pullbacks are possible.

Fundamental Context

Fundamentally, the CAD’s sustainability in the coming days will depend largely on the US dollar behavior and geopolitical developments. Broader market risk sentiment will also influence USD dynamics and provide momentum for the Loonie.