Holds position above 1.3800, barrier appears near nine-day EMA

The USD/CAD pair is testing psychological support at 1.3800, with the next key level at the seven-month low of 1.3760. The 14-day RSI remains just above the 30 mark, signaling a continued bearish bias without reaching oversold conditions. A breakout above the nine-day EMA at 1.3839 could reinforce short-term bullish momentum. The USD/CAD pair is remaining steady after registering gains in the previous session, trading around 1.3810 during the European hours on Monday. Technical analysis on the daily chart indicates a possible bullish shift in market sentiment, with the pair sustaining levels above the descending channel pattern. Additionally, the 14-day Relative Strength Index (RSI) hovers just above 30, reflecting a persistent bearish bias without entering oversold territory. The USD/CAD pair also remains below the nine-day Exponential Moving Average (EMA), suggesting weak short-term momentum. Further price action is needed to confirm the trend direction. On the downside, the USD/CAD pair is testing the key psychological support at 1.3800, followed by the seven-month low of 1.3760, last seen on May 2, which sits just above the upper boundary of the descending channel. A clear move back into the channel would reinforce the bearish bias, potentially driving the pair toward the 1.3419 level — its lowest since February 2024 — with further support near the lower boundary of the channel around the 1.3320 area. The USD/CAD pair faces initial resistance at the nine-day EMA of 1.3839. A decisive break above this level would strengthen short-term bullish momentum, potentially signaling a shift in bias. This could open the path toward the 50-day EMA at 1.4066, followed by the monthly high at 1.4415. Continued upside may then target the key resistance at 1.4793 — the lowest level seen since April 2003. USD/CAD: Daily Chart Canadian Dollar PRICE Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the weakest against the Australian Dollar. The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote). Source: https://www.fxstreet.com/news/usd-cad-price-forecast-holds-position-above-13800-barrier-appears-near-nine-day-ema-202505050834