21:01 UTC
Uptrend, momentum cooling · RSI 57 · price 1.37978
Higher highs and higher lows since early April, consolidating below 1.3870.
USDCAD has been carving out a steady uptrend off the early April 1.3530 low, with a clean chain of higher highs and higher lows pushing into a 1.3770–1.3870 range over the last two weeks. Price is holding above EMA20 and EMA50 on D1 with both rising, but RSI has cooled into the mid-50s as the pair consolidates under the late-May 1.3870 swing high. Middle East tension and the bid in the greenback have kept CAD on the back foot, but momentum is flattening rather than accelerating.
Support: 1.3770, 1.3700, 1.3620
Resistance: 1.3870, 1.3895, 1.3966
What it said to watch
- Daily close above 1.3870 swing high reopens the path toward the 1.3895 feb high and 1.3966 jan high
- Loss of 1.3770 swing low and a break of EMA20 near 1.3700 would break the higher-low sequence
- Sustained move back under 1.3620 prior pivot would neutralise the multi-month uptrend