USD/CAD shows short-term upside potential while holding 1.3928 support, though a weekly close below the 1.3929 EMA could trigger a decline toward the 1.3480 low.
The intraday bias is mildly on the upside with 1.3928 support holding and a retest of the 1.4298 high possible, while the bigger picture warns the fall from 1.4791 may resume below the 55 W EMA at 1.3929. The two views point in opposite directions, so no clear directional call can be made for the pair over the coming days.
The USD/CAD pair maintains a short-term bullish bias as it holds above the 1.3928 support level, potentially targeting a retest of the 1.4298 high. However, the broader outlook remains cautious, with a sustained break below the 55-week EMA at 1.3929 signaling a potential resumption of the downtrend toward the 1.3480 low.
Short term the bias is mildly higher toward the 1.4298 high as long as 1.3928 support holds, but a weekly close through the 55-week EMA near 1.3929 would signal a possible return to the 1.3480 low.
Key levels are 1.4298 (recent high), 1.3986 (38.2% retracement), 1.3928/1.3929 (support and the 55-week EMA) and 1.3480 (prior low).