The USD/CAD currency pair recently reversed upwards from a support area between the 1.3800 mark, echoing bullish signals. This vital support has effectively halted downward price movement since April, showcasing the pair’s resilience.

Technical indicators indicate a potential upward trajectory. The lower daily Bollinger Band and the support trendline are constructing a solid foundation for a bullish run.

Traders will be keen to monitor for signs of continued strength as upward momentum seems likely in the near term.