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fxJun 22, 2026, 8:57 AM

USD/CAD Breakout Signals Extended Downtrend for Canadian Dollar – SocGen

Societe Generale notes that USD/CAD has surged after breaking a descending trend line in place since last year, indicating a momentum shift and potential breakout from a multi-month range, extending the Canadian dollar's downtrend.

USDCAD

Societe Generale reports that USD/CAD has accelerated higher after breaking a descending trend line that had been in place since last year. This move signals a momentum shift and an attempted breakout from a broad multi-month range. The development points to a continuation of the Canadian dollar's downtrend versus the US dollar.

Source: FXStreet Forex News