USD/CAD Nears Key Resistance at 1.3800: Will the Range Break or Hold?
USD/CAD is approaching the upper boundary of its rectangular consolidation range near the critical 1.3800 level. Technical indicators show strong bullish momentum, but this resistance has capped rallies multiple times. A decisive breakout above 1.3800 could open the door to further gains toward 1.4000, while a rejection might prompt a pullback to support around 1.3600. Watch for shifts in US monetary policy and oil prices, as these remain key drivers for the pair’s next move.
