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Societe Generale’s Kenneth Broux highlights that USD/CAD has broken above a key descending trendline and the upper boundary of a multi‑month base, signalling renewed upside momentum. The bank sees scope for gains towards 1.4030/1.4090 and the November 2025 peak near 1.4150, with the 1.3940/1.3900 area acting as initial short‑term support on any pullbacks.
Breakout targets higher resistance zone
“USD/CAD crossed the descending trendline drawn from 2025 and has now broken out above the upper boundary of a multi-month base.”
“This highlights the upward momentum is regaining.”
“The pair may extend the up move towards next projections of 1.4030/1.4090 and the peak of November 2025 near 1.4150.”
