**BREAKING: USD/CAD Surges to 14-Month Peak Above 1.4150**
The USD/CAD currency pair extended its winning streak to seven consecutive sessions, climbing above 1.4150 during European trading hours Friday morning. The pair is currently holding near 1.4140, marking its highest level in fourteen months as momentum remains firmly bullish.
Technical indicators confirm the sustained uptrend, with the pair trading within an ascending channel pattern on the daily chart. This structure reinforces the prevailing bullish bias and suggests further upside potential in the near term. The Canadian dollar’s weakness against the greenback reflects broader currency market dynamics favoring the US dollar.
Traders and brokers should monitor resistance levels closely as the pair approaches multi-month extremes. The seven-day rally indicates strong directional conviction, with no immediate signs of reversal based on current technical formations.
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FXnCO Insight
** Forex traders should position for continued USD strength against CAD while watching for potential profit-taking near psychological resistance at 1.4200, with stop-losses below the ascending channel’s lower boundary to manage risk.
Source: FXStreet