USD/CAD Holds Above Breakout Zone as Momentum StretchesU.S. Dollar / Canadian DollarFOREXCOM:USDCADFOREXcomUSD/CAD is trading near recent highs after pushing above the 1.3967 resistance area on the daily timeframe. This level now appears to be acting as a potential support zone, with price consolidating just above it following the recent upward extension. The moving averages are supportive of the broader recovery. Price is holding above both the 50-day SMA and 200-day SMA, while the 50-day average has turned higher. This suggests the short-term structure has strengthened after the May rebound and that buyers have maintained control of the latest trend phase. Momentum remains constructive but somewhat extended. MACD is above the zero line with the MACD line still holding above the signal line, confirming positive momentum. However, RSI is sitting around 75, placing it in overbought territory and suggesting that upside momentum may be stretched in the near term. Overall, USD/CAD shows a bullish technical bias while price remains above the reclaimed 1.3967 region. That said, the elevated RSI points to a possible pause or consolidation before the next directional move becomes clearer. The next major resistance zone remains the prior high area around 1.4140. -MW