USDCAD looks exhausted near 2026 high

USDCAD has been stubbornly testing the critical 2026 ceiling of 1.3945-1.3980 over the past couple of days, increasing speculation that the bulls may be running out of fuel after six weeks of continuous gains within a tight bullish channel.
XM Group | 92 days ago

 

Momentum: The RSI and the stochastic oscillator warn of overbought conditions, increasing the odds for a downside corrective move.

Bearish scenario: The price could sail south to test the channel’s support area near 1.3865. A deeper decline could pause near the 20- and 200-day SMAs within the 1.3800-1.3825 zone.

Risk: A sustained advance above 1.3980 could mark a bullish breakout from the neutral 2026 market structure.

XM Group
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