The USD/CAD pair is currently trading around 1.3670, showing a sideways movement within a horizontal channel pattern on the daily chart. The 14-day Relative Strength Index (RSI) is at the 50 level, indicating potential direction. The Moving Average Convergence Divergence (MACD) indicator suggests a bullish bias, with the MACD line above the centerline and diverging above the signal line.
Key resistance is seen at the psychological level of 1.3700, with potential for further upside towards 1.3720 and 1.3740. Breaking above these levels could lead to a test of 1.3800 and April’s high of 1.3846. On the downside, support is found at the lower boundary of the horizontal channel near 1.3600 and throwback support at 1.3590.
Overall, the USD/CAD pair is showing signs of potential bullish momentum, with key levels to watch for both resistance and support.