USD/CAD Price Forecast 

Canadian Dollar Retreats from 15-Month High

The USD/CAD pair rose during Monday's Asian trading session for the second consecutive day, after falling last week to its lowest level in nearly 15 months, particularly due to weak Canadian growth indicators and the strengthening of the US dollar following the nomination of Kevin Warsh to succeed Jerome Powell as Chairman of the Federal Reserve.

From a technical perspective, the pair rose to the 1.3660/80 resistance level, which could push it back down towards 1.3500 as an initial target, followed by 1.3400.

The next good resistance level for selling is near 1.3725/40.

This scenario would be invalidated if the 1.3930 level is breached.