USD/CAD Breaks 1.4000: Six-Month High on Technical Momentum

USD/CAD has decisively broken above the psychologically important 1.4000 level for the first time in six months, reaching 1.4035 amid broad US dollar strength and Canadian dollar weakness. The pair gained 0.7% during today's session, with technical indicators confirming bullish momentum. The 14-day RSI at 68 suggests strong buying pressure without yet reaching overbought territory. Oil prices declining 1.2% to $78.50/barrel have added pressure on the commodity-linked Canadian dollar. The break above 1.4000 opens the path toward the next resistance at 1.4080, the March 2025 high. Support has formed at 1.3980, with the 50-day moving average at 1.3920 providing additional backing. Traders are positioning for continued USD/CAD strength, though some consolidation near current levels would be healthy for the uptrend's sustainability.