“USD/CAD Pulls Back Following Stability at the Projected Target – Analysis | 06-01-2026”

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USD/CAD traded within a narrow range during its latest intraday session, showing choppy movements after stabilizing near the key resistance at 1.3800—a level previously identified as a potential target. The pair is attempting to regain bullish momentum that could support a recovery and a potential breakout above this resistance. Meanwhile, overbought conditions on the Relative Strength Index have been unwound, with momentum indicators slipping into relatively oversold territory compared to price action, suggesting a fading of intraday downside pressure. This comes as price continues to find dynamic support above the EMA50, within a dominant short-term bullish corrective wave.

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