The USD/CAD currency pair continues to show strong momentum, extending its gains for the fifth consecutive session. As of Thursday morning in European trading, the exchange rate hovered around 1.3870, approaching the critical upper boundary of its ascending channel near the 1.3900 level.
Technical analysis suggests a potential breakout is on the horizon. Should the USD manage to push past this resistance, it could signal further bullish movement for the dollar against the Canadian dollar, attracting traders' attention to the evolving dynamics in the forex market. This upward trend reflects broader market trends and may influence trading strategies in the days ahead.
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Data Source: FX Killer Analysis Team Updated: 2026-01-08 07:45
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.