The pair climbs above 1.3600 amid lower crude prices, though a bearish outlook remains below the 100-day EMA.
The USD/CAD pair advanced to 1.3635 in early European trading, supported by a decline in crude oil prices. Hopes for a US-Iran peace deal eased geopolitical tensions, reducing demand for oil and pressuring the commodity-linked CAD.
The pair remains below its 100-day exponential moving average, sustaining a bearish bias. Prior sessions saw limited volatility, with traders awaiting key economic data for further direction.
Market focus shifts to upcoming US and Canadian economic releases, which could influence the pair’s next move.