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Forex

USD/CAD Bulls Eye 1.3900 Resistance Level

Guavy AI Editorial Team
Instruments
USD CAD
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The USD/CAD currency pair is showing renewed bullish momentum as it approaches the 1.3900 resistance level, according to recent technical analysis.

The Relative Strength Index (RSI) on the daily chart has rebounded from oversold territory, indicating a potential shift in momentum for buyers.

A decisive break above 1.3900 could open the door for a test of the 1.4000 handle, while failure to hold above 1.3800 might negate the bullish bias and trigger a retest of lower supports.

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