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Prezzi
fxJun 12, 2026, 6:17 PM

USD/CAD RSI Overbought; Bears Defend 1.4000 Level

USD/CAD traded higher on Friday, supported by lower oil prices weighing on the Canadian dollar. However, the RSI entered overbought territory and bears are actively defending the 1.4000 resistance level.

USDCAD

USD/CAD extended its gains on Friday as declining oil prices pressured the commodity-linked Canadian dollar. The move comes amid cautious optimism that the US and Iran could reach an agreement to reopen the Strait of Hormuz, potentially increasing global oil supply.

Technical indicators suggest the rally may be losing steam. The Relative Strength Index (RSI) has entered overbought territory, while sellers continue to defend the key 1.4000 psychological level. A rejection here could open the door for a pullback, though a sustained break above would shift the outlook bullish.

Source: FXStreet Forex News