USD/CAD Pullback Tests Rising Trend SupportU.S. Dollar / Canadian DollarFOREXCOM:USDCADFOREXcomUSD/CAD remains in a broader bullish structure on the daily chart, although recent price action shows a clear loss of short-term momentum after rejection from the 1.4200–1.4250 region. Price has pulled back beneath the 1.41405 resistance level and is now approaching an important confluence zone around 1.39670. This area combines prior horizontal resistance-turned-support with the rising 50-day SMA near 1.3993. Holding above this region would preserve the sequence of higher lows and keep the medium-term structure constructive. The moving averages continue to support a broader bullish bias. The 50-day SMA remains above the 200-day SMA, while both averages are trending upward. Price also remains well above the 200-day SMA near 1.3854, suggesting that the current decline is still a correction within the larger advance rather than a confirmed trend reversal. Momentum indicators are more cautious. The MACD line has crossed below its signal line and is declining toward the zero level, reflecting weakening upside momentum. RSI has also retreated from overbought territory to approximately 45, placing it in neutral-to-bearish territory without yet reaching oversold conditions. Overall, the chart presents a neutral-to-moderately bullish medium-term bias, with 1.39670 and the 50-day SMA acting as the key technical test. A sustained recovery above 1.41405 would indicate renewed strength, while a decisive breakdown below the support confluence would weaken the existing bullish structure. -MW