The USD/CAD pair is showing signs of further depreciation after breaking below the ascending channel’s lower boundary, trading near 1.3550 during Thursday’s European session. This bearish trend could push the pair toward its six-month low of 1.3441.
Technical indicators, including the 14-day Relative Strength Index (RSI) below 50 and the nine-day Exponential Moving Average (EMA) falling below the 14-day EMA, confirm weakening momentum. Immediate resistance is at the nine-day and 14-day EMAs around 1.3574–1.3576. If the pair re-enters the ascending channel, it may test resistance levels at 1.3590 and 1.3600


