USD/CAD PRICE FORECAST: THE PAIR KEEPS BULLISH VIBE ABOVE 1.3900
- USD/CAD strengthens to around 1.3930 in Wednesday’s early European session, adding 0.72% on the day.
- The positive view of the pair prevails above the 100-day EMA and bullish RSI indicator.
- The first upside barrier emerges at 1.3972; the initial contention level is located at 1.3836.
The USD/CAD pair gathers strength to near 1.3930 during the early European session on Wednesday. The US Dollar (USD) rises across the board on the day as Trump trades continue to gain momentum after the polls showed Republican candidate Donald Trump ahead of Democratic candidate Kamala Harris in the US presidential election.
According to the daily chart, USD/CAD keeps a bullish vibe at present as the price is well-supported above the key 100-period Exponential Moving Average (EMA). Furthermore, the upward momentum is reinforced by the 14-day Relative Strength Index (RSI), which stands above the midline near 64.45, indicating that further upside cannot be ruled out in the near term.
Any follow-through buying above the upper boundary of the Bollinger Band at 1.3972 could still lift USD/CAD back up to the 1.4000 psychological mark. A decisive break above this level could attract some buyers to 1.4140, the weekly high of May 11.
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