The currency pair tests key support levels after modest losses, trading subdued in European hours.
USD/CAD fell to nearly a monthly low, trading below 1.4050 during European hours on Wednesday. The pair extended modest losses from the previous session, testing the lower boundary of a symmetrical pattern on the daily chart.
Prior to this decline, the pair had shown limited volatility, with recent sessions reflecting subdued movement. Analysts note the 1.4050 level as a critical support zone, with potential implications for short-term direction.
Market reaction remained muted, as traders await further signals on monetary policy or economic data releases.