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Forex

USD/CAD Falls Below Key Level as Oil Prices Surge

Guavy AI Editorial Team
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USD CAD
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The USD/CAD currency pair has continued to experience bearish pressure as it trades below the key psychological level of 1.4000, driven by a combination of a softer US dollar and firmer oil prices.

As of the latest trading session, the pair is hovering near 1.3950, reflecting a decline of about 0.3% on the day.

The technical indicators are also pointing to further downside, with the Relative Strength Index (RSI) reading near 40 and the moving average convergence divergence (MACD) indicator in negative territory.

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