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fxJun 17, 2026, 6:57 AM

USD/CAD Holds Gains Above 1.4000, Bullish Bias Persists

The USD/CAD pair is trading around 1.4005 in early European trading on Wednesday, maintaining gains above the 1.4000 level. A bullish bias continues despite an overbought RSI, as optimism over a US-Iran peace deal pressures crude oil prices and weighs on the commodity-linked Canadian dollar.

USDCAD

The USD/CAD pair is holding gains above the key 1.4000 level, trading near 1.4005 during the early European session on Wednesday.

Bullish momentum persists despite an overbought relative strength index (RSI), indicating that upward pressure on the pair remains strong. The Canadian dollar is under pressure as crude oil prices decline following optimism surrounding a potential US-Iran peace agreement, which could increase global oil supply.

Source: FXStreet Forex News