USD/CAD Nears Key Resistance as Consolidation Hints at Potential Breakout
USD/CAD is testing rectangular channel resistance near 1.3800 after a period of range-bound consolidation between 1.3600 and 1.3800. Technical indicators show modest bullish momentum, but a decisive breakout above 1.3800 is needed to target 1.3860 and beyond. Failure to break resistance could push prices back toward support levels around 1.3650–1.3600. Keep an eye on US and Canadian economic data, Fed and BoC policies, and oil prices for further direction.
