USD/CAD Set to Extend Rally as Technical and Fundamental Factors Align for Further Gains
USD/CAD is showing signs of building bullish momentum and edging toward a breakout above key resistance near 1.3540. Technical indicators like the 50 EMA, RSI, and MACD support further upside potential toward 1.3600–1.3660. On the fundamentals side, stronger-than-expected US inflation and labor data bolster the dollar, while softer Canadian GDP and cautious Bank of Canada outlook weigh on the loonie. Monitor price action around support at 1.3450 for indications of sustained upward pressure. Traders should stay alert to Fed and BoC updates as these will be key drivers of the pair’s near-term trajectory. Full analysis extended from Economies.com insights.
