The currency pair extends an eight-day rally, reaching its highest level since early 2023 amid technical momentum.
USD/CAD rose to 1.4180 in early European trading, marking its eighth consecutive daily gain and nearing a 14-month high close to 1.4200. The pair’s ascent follows an ascending channel pattern on daily charts, reinforcing a bullish outlook for traders.
Prior to this rally, USD/CAD had traded below 1.3800 in late June, with the latest surge driven by broad USD strength and technical breakouts. The 1.4200 level represents a key resistance confluence, last tested in May 2023.
No immediate market reaction data was provided, though the sustained uptrend suggests continued investor focus on USD dynamics and CAD weakness.