USDCAD continues its bullish surge, eyes 1.4300 area
USDCAD has been performing exceptionally well after forcefully breaking a symmetrical triangle on the upside.
The pair unlocked a four-and-a-half year high of 1.4279 earlier today, continuing to press toward the upper band of a bullish channel. The 1.4330-1.4365 area is now in sight as the US and Canadian CPI inflation data loom in the calendar. A break higher could propel the price toward the 1.4500 level, last seen in March 2020, unless the 1.4400 psychological mark caps the bullish action beforehand.
According to the RSI and the stochastic oscillator, the market is treading in overbought waters, and a slowdown might be imminent. Perhaps if the 1.4260 blocks the way up, forcing a close below 1.4200, the price may seek shelter within the 1.4075-1.4100 territory, where the 20-day exponential moving average (EMA) and the lower band of the two-month-old bullish channel are sitting. Failure to pivot there could confirm additional losses toward the 1.4000 level and the 50-day EMA.
All in all, USDCAD is in a clear bullish trend and may have some extra room for improvement before it takes a breather. Key resistance is located in the 1.4330-1.4360 range, while the 1.4200 level could offer support in the event of a pullback.
Democratic Sweep Weakens the US Dollar and Lifts Precious Metals | 5th November, 2026
Central Bank Signals and Easing Safe-Haven Demand Shape Currency Markets | 2nd November, 2026
Rate-Hike Bets and a Hawkish Fed Hold Shape Currency Markets | 29th October, 2026
Dollar Holds Firm Ahead of Fed Decision; Oil Rises on Saudi Refinery Attack
What to Expect from the RBNZ, BoC and Fed
Central Bank Divergence and Easing Iran Tensions Reshape Currency Markets | 26th October, 2026
Weak Tech Earnings Pressure the US Dollar as Central Bank Divergence Shapes Forex Markets | 23rd October, 2026
