USD/CAD Price Analysis: Extends gains towards the psychological barrier of 1.3500

USD/CAD could surpass the psychological barrier at 1.3500 followed by January’s high at 1.3541
Technical indicators suggest a bullish confirmation towards the major resistance at 1.3550.
The pair could find the support zone around the 50-day EMA at 1.3456 aligned with the major support at the 1.3450 level.

Akhtar Faruqui FXStreet

USD/CAD moves in an upward direction for the sixth consecutive week, edging higher to near 1.3480 during the European session on Monday. The psychological level at 1.3500 appears to be the immediate resistance.

A firm breakthrough above the psychological resistance could exert a positive sentiment that could lead the USD/CAD pair to test January’s high at 1.3541 before the major 1.3550 level.

The technical analysis of the Moving Average Convergence Divergence (MACD) for the USD/CAD pair indicates a potential bullish sentiment in the market. This interpretation is based on the positioning of the MACD line above the centerline and divergence above the signal line.

Additionally, the lagging indicator 14-day Relative Strength Index (RSI) is positioned above 50, suggesting the confirmation of stronger momentum for the USD/CAD pair, which could support the pair to navigate the region around the psychological resistance of 1.3600.

On the downside, the USD/CAD pair could find the support zone around the 50-day Exponential Moving Average (EMA) at 1.3456 and 23.6% Fibonacci retracement level at 1.3455 aligned with the major support at 1.3450 level.

A break below the latter could put downward pressure on the USD/CAD pair to test the 38.2% Fibonacci retracement level at 1.3402, in conjunction with the psychological level at 1.3400. If the psychological level breaches, the pair could revisit the recent low at 1.3365 reached on February 2.

(This story was corrected on February 5 at 10:24 GMT to say, in the second bullet point and the second paragraph, that the 1.3550 level is a resistance, not a support.)

USD/CAD: Daily Chart

USD/CAD: other technical levels to watch

Overview
Today last price	1.348
Today Daily Change	0.0022
Today Daily Change %	0.16
Today daily open	1.3458

Trends
Daily SMA20	1.344
Daily SMA50	1.3429
Daily SMA100	1.3552
Daily SMA200	1.3477

Levels
Previous Daily High	1.3476
Previous Daily Low	1.3366
Previous Weekly High	1.3476
Previous Weekly Low	1.3359
Previous Monthly High	1.3542
Previous Monthly Low	1.3229
Daily Fibonacci 38.2%	1.3434
Daily Fibonacci 61.8%	1.3408
Daily Pivot Point S1	1.3391
Daily Pivot Point S2	1.3323
Daily Pivot Point S3	1.3281
Daily Pivot Point R1	1.35
Daily Pivot Point R2	1.3543
Daily Pivot Point R3	1.361

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

GBP/USD remains below 1.3400 as USD recovers

GBP/USD stalls its rebound and stays below 1.3400 in the European trading hours on Thursday. The pair's upside remains capped by a modest US Dollar bounce and cooler-than-expected UK inflation data amid escalating Middle East tensions.

EUR/USD steadies above 1.1400 ahead of ECB policy decision

EUR/USD holds its upbeat momentum for the second consecutive day, above 1.1400, in the European session on Thursday. The pair stays supported ahead of the European Central Bank's interest rate decision, with any hints on further rate hikes to be closely eyed.

Gold holds losses near $4,100 on surging Oil-led inflation fears

Gold holds the pullback near the $4,100 round figure in Thursday's European session. US crude oil prices climb to a fresh six-week high toward $90 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Fed interest rate hike expectations. Hawkish Fed bets weigh negatively on the yieldless bullion.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

Bitcoin falls as surging Oil prices revive inflation concerns

Bitcoin extends its correction, trading below $65,800 after a modest decline in the previous day. Despite BTC’s fading strength, US-listed spot Bitcoin Exchange Traded Funds continued to attract institutional inflows on Wednesday, marking the seventh consecutive day of gains.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.