USD/CAD has been riding a well-defined ascending channel since mid-February, pushing toward 1.45 after bouncing off its 50-EMA support. The pair remains in a firm uptrend, with bulls showing resilience despite intraday pullbacks.
🔍 Technical Overview:
✅ Trending Higher – Price action remains inside the rising channel.
✅ Support Holding Strong – The 50-EMA (1.4366) has acted as dynamic support.
✅ Momentum Intact – RSI at 64 is bullish but not yet overbought.
✅ MACD Slightly Flat – Suggesting momentum is steady but not accelerating significantly.
📌 Key Levels to Watch:
🔹 1.4500-1.4520 – Immediate resistance; a breakout could push toward 1.48.
🔹 1.4360-1.4400 – Key support zone, aligned with trendline & 50-EMA.
🔹 1.4800 – Major resistance from early February; bulls need a breakout for a larger move.
💡 Trading Outlook:
🔺 Bullish case: A clean breakout above 1.4520 could fuel a run toward 1.48, especially if broad USD strength continues.
🔻 Bearish case: A close below 1.4360 would break the channel, signaling a possible pullback toward 1.42.
Bulls remain in charge for now, but the rally needs follow-through to sustain the upside momentum. Keep an eye on that 1.45 handle!
What’s your next move—ride the trend or wait for a pullback?
🔍 Technical Overview:
✅ Trending Higher – Price action remains inside the rising channel.
✅ Support Holding Strong – The 50-EMA (1.4366) has acted as dynamic support.
✅ Momentum Intact – RSI at 64 is bullish but not yet overbought.
✅ MACD Slightly Flat – Suggesting momentum is steady but not accelerating significantly.
📌 Key Levels to Watch:
🔹 1.4500-1.4520 – Immediate resistance; a breakout could push toward 1.48.
🔹 1.4360-1.4400 – Key support zone, aligned with trendline & 50-EMA.
🔹 1.4800 – Major resistance from early February; bulls need a breakout for a larger move.
💡 Trading Outlook:
🔺 Bullish case: A clean breakout above 1.4520 could fuel a run toward 1.48, especially if broad USD strength continues.
🔻 Bearish case: A close below 1.4360 would break the channel, signaling a possible pullback toward 1.42.
Bulls remain in charge for now, but the rally needs follow-through to sustain the upside momentum. Keep an eye on that 1.45 handle!
What’s your next move—ride the trend or wait for a pullback?
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