USDCAD: Rally stalls after 18-month peak

USDCAD hits 1.4260 peak, but a bearish #doji & overbought RSI tease a pullback! Rebound off 1.4140 targets 1.4415 next high. Slip below 1.4080 opens risk.
XM Group | 1 hari yang lalu

Overview: USDCAD posted a bearish doji candle, a sign of a potential bearish correction, after a multi-day winning streak and a rally to a new 18-month high of 1.4260.

Momentum: Technical oscillators confirm the recent pullback, with the RSI appearing overstretched and the stochastic ticking down from overbought territory.

Bullish Scenario: A rebound off the 1.4140 support level would increase speculation of another bullish wave toward the recent peak at 1.4260, ahead of the March 2025 high at 1.4415.

Risk: A drop below the 1.4080 barrier could invalidate the bullish market structure, pointing toward further losses.

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