USD/CAD surge reaches 1.3850

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Source: Dukascopy Bank SA


The surge of the US Dollar that started against the Canadian Dollar in early October has managed to breach the 50 and 200-day simple moving averages and the 1.3600 mark. Most recently, the pair has hit the early 2024 high level range near 1.3850.

A move above the 1.3850 level is expected to be slowed down by the 1.3900 mark, before the pair reaches the 2024 high level range near 1.3950.

On the other hand, if the pair bounces off 1.3850, it would look for support in the mentioned 50 and 200-day simple moving averages and the 1.3600 level. Further below, note the low level range at 1.3420/1.3450.
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