USD/CAD Rebound Strengthens as it Breaks Key Trend Line and 50-Day Average
USD/CAD is reinforcing its recovery after hitting a bottom around 1.3535 in June, breaking above a crucial multi-month trend line as well as the 50-day average. With MACD indicators returning positive, the pair has established short-term support at 1.3700. Analysts from Sociรฉtรฉ Gรฉnรฉrale anticipate that USD/CAD will test higher levels close to 1.3910 and approach the May peak near 1.4000/35. This upward momentum could reshape the trends in the coming days, with traders keenly watching economic data that may influence the exchange rate. For ongoing analysis and forecasts, look to entreprenerdly.com.