USDCAD remains bullish, showing signs of strengthening

Oct 8

USDCAD remains bullish, showing signs of strengthening. After a successful breakout, the pair has completed a minor correction phase, and price accumulation in the current zone suggests potential for further upside movement.

Although the U.S. dollar remains relatively weak in the broader context, the technical setup still favors the bulls. The main fundamental risk to USD strength at the moment comes from Donald Trump’s tariff policies, which could introduce volatility if escalated further. Additionally, the U.S. government shutdown, now in its second week, has so far had limited market impact.

Overall, the USD appears stronger than before, and as long as the price stays above key support levels, a bullish scenario remains in play. If bullish momentum continues, resistance near 1.40007 could be the next significant upside target.

You may find more details in the chart.
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Oct 8

Trade active

Oct 9

Trade closed: target reached