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fxJul 7, 2026, 9:40 AM

USD/CAD Breaks Out, Targets 1.4250 as Canadian Dollar Weakens

Societe Generale notes USD/CAD has broken out of a large consolidation range and extended gains toward 1.4250, with the prior range top at 1.4130 now acting as support.

USDCAD

Societe Generale's Kenneth Broux reports that USD/CAD has broken out of a prolonged consolidation pattern, pushing higher toward the 1.4250 level. The breakout confirms further weakness in the Canadian dollar against the US dollar.

The upper boundary of the previous range at 1.4130 has now flipped into a key support level. A sustained move above 1.4250 could open the door for additional gains, according to the analyst.

Source: FXStreet Forex News