The USDCAD continues to push higher, extending beyond the October high at 1.40791 and breaking through the swing area between 1.4060 and 1.40668. This move marks a meaningful shift in momentum, as buyers have been able to sustain strength and force a clean break above what had been a key technical barrier throughout the month. The support down to 1.4060 is now a key support that needs ot hold to keep the bias to the upside in the short term. It is now the line in the sand for bullish control. Staying above it keeps the breakout intact and maintains buyer confidence; slipping back below would raise the risk of a failed break and potential corrective move lower.
In the video above, I discuss this breakout dynamic in greater detail and outline the next key upside targets that traders will be watching closely. If the pair can continue to build value above the former highs, it would signal that buyers are firmly in command and open the door for further bullish extension toward higher technical levels on the chart. Conversely, failure to hold above the breakout zone would dampen the bullish tone and likely invite profit-taking or renewed selling pressure. For now, though, the momentum remains with the buyers, and the 1.4060–1.4068 region stands as the key barometer for maintaining that positive bias.
