USD/CAD Eyes Breakout Above 1.38 as Weekly MACD Flashes Bullish Signal
USD/CAD Weekly Technical Outlook
The pair is approaching a key resistance zone around 1.3800. A weekly close above this level could signal a push toward the 1.4000 handle, opening the door for a longer-term bullish breakout and potential buy-and-hold scenario.
From the downside, a break below 1.3500 would likely trigger Canadian dollar strength, possibly driving the pair much lower.
MACD Confirmation:
The weekly MACD is crossing above the histogram from below, which is typically a bullish momentum signal. This supports the idea of a developing uptrend and could mark the beginning of a sustained move higher—especially if accompanied by strong volume.
Fundamental Backdrop:
The recent surge in U.S. Treasury demand reflects heightened risk-off sentiment and USD strength, which may continue to support the upside in USD/CAD in the near term.
USD/CAD Weekly Technical Outlook
The pair is approaching a key resistance zone around 1.3800. A weekly close above this level could signal a push toward the 1.4000 handle, opening the door for a longer-term bullish breakout and potential buy-and-hold scenario.
From the downside, a break below 1.3500 would likely trigger Canadian dollar strength, possibly driving the pair much lower.
MACD Confirmation:
The weekly MACD is crossing above the histogram from below, which is typically a bullish momentum signal. This supports the idea of a developing uptrend and could mark the beginning of a sustained move higher—especially if accompanied by strong volume.
Fundamental Backdrop:
The recent surge in U.S. Treasury demand reflects heightened risk-off sentiment and USD strength, which may continue to support the upside in USD/CAD in the near term.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.