USD/CAD bears target 1.3850 after rejection at 1.3900
USDCAD is facing renewed downside after a rejection near 1.3900, with sellers looking toward 1.3850 support as higher oil prices and a US-Canada tariff pause support the loonie.
USDCAD
The US dollar is resuming its broader bearish trend against the Canadian dollar. After rejection near the 1.3900 area, USD/CAD sellers are focused on support around 1.3850.
Key factors in the note:
- Rejection level: 1.3900
- Bearish target: 1.3850
- CAD support: higher oil prices and a US-Canada deal to pause 50% tariffs on Canadian goods
The pair’s next directional cue will likely come from whether the 1.3850 support holds or breaks.
Source: FXStreet Forex News