USDCAD has trended higher for six weeks off the late-April low near 1.3580, printing a chain of higher highs and holding above a rising EM(50) on D1. The latest session pushed through the 1.3969 six-month high, extending the move after the neutral-to-dovish BoC hold and a firm USD into FOMC. RSI near 68 flags the leg as stretched, with the 1.4000 psych level the next overhead area to watch for rejection or break.
Support: 1.3900
Resistance: 1.3969, 1.4000
What it said to watch
Daily close back below 1.3900 weekly low would stall the breakout and signal consolidation
Sustained acceptance above 1.3969 opens the path toward the 1.4000 round number
Oil and Middle East headlines remain the primary external driver for this read
21:03 UTC
Uptrend, overbought into highs · RSI 69 · price 1.39872
Higher highs/higher lows, fresh 6-mo high.
Six-week uptrend extending; price has held above a rising EM(50) since the mid-April low near 1.355 and just cleared the 1.3969 six-month high to print 1.3989. The leg up follows a soft-CAD, firm-USD backdrop after the neutral BoC hold and hot US PPI, with daily RSI near 69 flagging stretched conditions. Closing above the prior 1.3969 cap turns it into a breakout, with the 1.4140 November high the next major pivot.
Support: 1.3900, 1.35497
Resistance: 1.3969, 1.4140
What it said to watch
Sustained D1 close above 1.3969 confirms the breakout, opening 1.4140
Loss of 1.3900 (9-day ema) would unwind the overbought push
Michigan sentiment Fri and next-week FOMC are the dominant USD catalysts