USD/CAD Price Forecast: Tests seven-month highs near 1.4100
Trending Articles- Markets in 2026: Will gold, Bitcoin, and the U.S. dollar make history again? — These are how leading institutions think
- Trump says Venezuela's Maduro deposed, captured after US strikes
- Bitcoin Price Surges To $90,000. U.S. Arrests Venezuela's President, Triggers Bull Frenzy
- After Upheaval in the World’s Largest Oil Reserve Holder, Who Will Emerge as the Biggest Winner in Venezuela’s Oil Market?
- U.S. to freeze and take control of Venezuela's Bitcoin holdings after Maduro capture
- Ethereum Price Forecast: Accumulation addresses post record inflows in December despite high selling pressure
USD/CAD targets the seven-month high of 1.4079.
The 14-day Relative Strength Index rises toward the 70 level, reinforcing bullish bias.
The pair may find its initial support at the nine-day EMA of 1.4013.
USD/CAD extends its gains for the fourth successive session, trading around 1.4060 during the European hours on Tuesday. The technical analysis of the daily chart indicates a prevailing bullish bias, with the pair moving upwards within the ascending channel pattern.
The short-term price momentum is stronger as the pair rises above the nine-day Exponential Moving Average (EMA). Additionally, the 14-day Relative Strength Index (RSI) is advancing toward the 70 mark, strengthening bullish bias.
The USD/CAD pair is testing the seven-month high of 1.4079, followed by the psychological level of 1.4100. A break above this confluence resistance zone would strengthen the bullish bias and lead the pair to explore the area around the upper boundary of the ascending channel at 1.4210.
On the downside, the primary support lies at the nine-day EMA of 1.4013, followed by the psychological level of 1.4000. Further declines below this crucial support region would weaken the short-term price momentum and prompt the USD/CAD pair to the 50-day EMA at 1.3933, followed by the ascending channel’s lower boundary around 1.3920.
USD/CAD: Daily Chart
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
