The currency pair rises 0.27% on Friday, extending weekly gains to 1.34% amid strong bullish momentum.
The USD/CAD pair advanced 0.27% during Friday’s North American session, reaching 1.4175 after rebounding from a daily low of 1.4131. The pair has gained over 1.34% this week, maintaining an upward trajectory toward last year’s highs.
Technical indicators show a clear uptrend, with the Relative Strength Index (RSI) at 86.45, signaling extreme overbought conditions. Analysts suggest a potential pullback, though a break above 1.4200 could target April 9, 2025, levels at 1.4273, followed by 1.4415 on April 1, 2025. Support lies at 1.4150, with further downside risks at 1.4100 and 1.4024.
The Canadian dollar was the strongest performer this week against the New Zealand dollar, though it remains under pressure against the USD.