- The USD / CAD three-day rally from 1.3900 was capped by resistance to the downtrend at 1.4140
- The pair remains bullish on the daily charts, supported by the 20-day SMA at 1.4065.
- Above 1.4140, the next resistance levels would be 1.4175 and 1.4265.
This week US dollars The rally from 1.3900 stalled today at 1.4140 and the pair fell below 1.4100, becoming negative on the day. the USD / CADremains stable above the main moving average lines, the 20-day SMA offering support at 1.4065 so far.
The daily chart shows the limited pair below the downtrend resistance from the highs of March 31 at 1.4140. A successful break beyond this line would increase upward pressure on the dollar, reaching the May 7 high at 1.4175 and March 21 high at 14265.
On the downside, below the 20-day SMA at 1.4055, the pair could aim for 1.3900 (May 11 low) and 1.3855 (April 30 low).