USDCAD breaks above 1.4079 before hitting resistance at 1.4105

USDCAD has extended its bullish momentum for a second consecutive day, rising approximately 0.4% to breach the 1.4079 swing level before encountering selling pressure at the 1.4105 resistance zone. The pair's upward trajectory reflects continued USD strength amid hawkish Federal Reserve expectations and declining oil prices weighing on the Canadian dollar. Technical analysis shows the pair successfully broke above the key 1.4079 level, which had previously acted as resistance, but sellers emerged at the next significant barrier near 1.4105. This price action suggests traders are taking profits at these levels after the recent rally. The immediate support now lies at the broken 1.4079 level, which could act as a new floor if the bullish momentum continues. A decisive break above 1.4105 would open the path toward the 1.4150 psychological level, while failure to hold above 1.4079 could trigger a pullback toward 1.4050.