21:01 UTC
Range, lower-bound recovery · RSI 60 · price 1.38447
Broad range 1.3500–1.3950 with price reclaiming mid-range.
USDCAD has spent the last four months oscillating in a broad 1.3500–1.3950 range, with the late-March spike to 1.3966 and the early-April lows near 1.3500 framing the boundaries. Price has built a double bottom off 1.3625 and 1.3580 through April–May and is now pressing back into the ema50 around 1.3845 after eight sessions of steady recovery. RSI near 60 confirms momentum has turned, but the pair remains mid-range rather than trending.
Support: 1.3703, 1.3625, 1.3550
Resistance: 1.3895, 1.3966, 1.3845
What it said to watch
- Daily close above the ema50 at 1.3845 and through 1.3895 would shift the read toward a retest of the range high
- Rejection at 1.3845 and a close back under 1.3703 reactivates the lower half of the range
- Loss of 1.3625 swing low invalidates the double bottom
- US–Iran ceasefire headlines and broad USD softness could materially shift this read