USD/CAD Nears Critical Support After Breakout: Technical Insights and Future Outlook
USD/CAD has decisively broken below the key 1.3510 support level, signalling a continuation of bearish momentum. Technical indicators like RSI and MACD reinforce the downside bias, with next targets at 1.3410 and potentially lower towards 1.3330 and 1.3270. The divergence in U.S. and Canadian monetary policies, alongside oil price dynamics, underpins this move. Traders should monitor resistance near 1.3510 and the 50-day EMA around 1.3590 for any corrective pullbacks. #ForexAnalysis #USDCAD
