The 1.3900 mark remains critical, aligning with the recent consolidation’s neckline. Breaking below this level might bring fresh selling pressure, possibly dragging the pair to April lows near 1.3750.<\/p>\n
The 4-hour chart shows recovery as USD\/CAD bounced from 1.3905 and rose above the 21-period EMA at 1.3940. The RSI has climbed to 60.10, showing potential for further gains. <\/p>\n
Resistance is at 1.4015, the May high. If broken, it could target 1.4070\u20131.4100. Failure to break 1.4015 may indicate a double-top formation, risking a retest of the 1.3900\u20131.3910 zone.<\/p>\n
The rally occurs on moderate volume, suggesting reactive flows. The pair trades within a rising wedge pattern, which can lead to continuation or reversal. The 1.3900\u20131.3930 area acts as support, needed to maintain a bullish view.<\/p>\n
Upcoming US Producer Price Index (PPI), Retail Sales, and Canadian Housing data on Thursday could impact the pair’s movement.<\/p>\n
This week, USD\/CAD has found a foothold near 1.3900 and managed to stage a bounce in the US session, trading around 1.3975. Buyers appear to be probing higher ground as they test resistance near the 50-day Exponential Moving Average around 1.4030. It\u2019s a level that often invites selling pressure, but should gains lead to a solid daily close above this mark, the path may open back up toward 1.4150 and beyond to 1.4290.<\/p>\n
Earlier in the week, the pair settled above the 21-day EMA near 1.3920\u2014an encouraging signal for directional bias, particularly when supported by improving momentum readings. The daily Relative Strength Index now sits at 52, a neutral but upward-leaning level, not quite in overbought territory but leaning towards demand-side strength. Often, these levels suggest complacency among sellers while buyers begin to regroup.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" USD\/CAD holds steady as bulls eye resistance; key support at 1.3900, data-driven moves anticipated Thursday.<\/p>\n","protected":false},"author":5,"featured_media":22735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-22257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts\/22257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/comments?post=22257"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts\/22257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/media?parent=22257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/categories?post=22257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/tags?post=22257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}