Following the U.S.–Iran strike over the weekend, the U.S. dollar strengthened, posting solid rebounds across major dollar pairs. The USD/CAD chart, in particular, climbed back toward the 1.38 level.
The pair is now eyeing a key resistance zone between 1.3840 and 1.3880, a range that has consistently held since October 2022. A decisive break and hold above this zone could pave the way for a continued rally toward the 1.40 mark.
Conversely, a drop back below 1.3600 could signal renewed downside risk for 2025, in line with the broader bearish trend that has defined the year so far.
— Razan Hilal, CMT
The pair is now eyeing a key resistance zone between 1.3840 and 1.3880, a range that has consistently held since October 2022. A decisive break and hold above this zone could pave the way for a continued rally toward the 1.40 mark.
Conversely, a drop back below 1.3600 could signal renewed downside risk for 2025, in line with the broader bearish trend that has defined the year so far.
— Razan Hilal, CMT
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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.