USD/CAD shows mixed signals at 1.3750 despite broad dollar strength

USD/CAD exhibits unusual price action around 1.3750, displaying conflicting technical signals despite general US dollar strength across major pairs. While the Dollar Index gained 0.6% to 105.20, USD/CAD's movement remains choppy, suggesting Canadian dollar resilience possibly linked to elevated oil prices above $78 per barrel. Key technical levels show immediate resistance at 1.3780 (61.8% Fibonacci retracement), with support holding at 1.3720. The pair's inability to break decisively above 1.3800 despite dollar strength indicates potential accumulation by institutional traders. USD/JPY continues its uptrend above 156.50, confirming broad dollar momentum. S&P 500 futures point to risk-on sentiment, which traditionally supports commodity currencies like CAD. Traders should monitor the 1.3800 psychological level for a potential breakout, while a drop below 1.3700 could signal further CAD strength.