USD/CAD Strengthens to Near 1.3950 Despite Overbought RSI
USD/CAD trades around 1.3945, hitting its highest since April 3, as the US Dollar gains on heightened Middle East tensions.
USDCAD
The USD/CAD pair extended its rally during early European trading on Monday, reaching approximately 1.3945. This marks its strongest level since April 3, driven by renewed US Dollar strength amid escalating geopolitical tensions in the Middle East.
Technical indicators show the pair is in overbought territory according to RSI readings, suggesting a potential pullback. However, the upward momentum remains intact for now as safe-haven flows support the greenback against the Canadian Dollar.
Source: FXStreet Forex News