The currency pair extends gains for a second week, nearing a key technical level after trading higher since early May.
USD/CAD has climbed for a second consecutive week, testing its 50-day simple moving average after stabilizing near the 1.3500 mark. The pair has remained in positive territory since the start of May, reflecting sustained upward momentum.
Earlier this year, USDCAD hovered around 1.3500 three times but failed to break decisively higher. The current attempt to close above the 50-SMA suggests growing bullish sentiment amid shifting market dynamics.
No immediate market reaction was specified, but traders are closely watching the 50-day moving average as a potential resistance level.