USD/CAD continues its winning streak that began October 2, hovering around 1.3790 during the European trading hours on Monday.
The USD/CAD pair may test the upper boundary of the ascending channel at the 1.3840 level. The 14-day RSI indicates an overbought situation, suggesting a potential downward correction could occur soon. The potential support appears at the lower boundary of the ascending channel around the 1.3740 level. The daily chart analysis shows that the pair is moving upwards within the ascending channel, suggesting the strengthening of a bullish bias.
A breach below the ascending channel could weaken the bullish sentiment and lead the pair to navigate the area around its nine-day Exponential Moving Average at 1.3680level. Further support appears at the “pullback resistance turns into throwback support” around the 1.3620 level, followed by the psychological level of 1.3600. USD/CAD: Daily Chart Canadian Dollar PRICE Today The table below shows the percentage change of Canadian Dollar against listed major currencies today.
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