The currency pair hovers near 1.3930 but shows bullish signals on daily charts, targeting six-month highs.
USD/CAD retreated for a second straight session, trading at 1.3930 during European hours Wednesday. The decline follows recent gains but remains within an ascending channel pattern on daily charts.
Technical analysis suggests the pair retains bullish momentum, with potential to rebound toward 1.4000, a level last seen six months ago. Prior sessions saw the pair test resistance near 1.3950, with support around 1.3850.
No immediate market reaction was specified, but the upward channel indicates sustained buying interest.