The USD/CAD pair has risen, with the US Dollar gaining strength against the Canadian Dollar. The market’s focus remains on the Federal Reserve’s monetary policy outlook, with expectations for interest rate cuts in September increasing.

The Canadian Dollar has faced pressure from the stronger US Dollar and uncertainty regarding the Bank of Canada’s (BoC) monetary policy stance. While the BoC is expected to cut interest rates further this year, the pace of easing is likely to be gradual.

USD/CAD Technical Outlook

The USD/CAD pair has shown a bullish trend, with the potential for further gains. The pair is trading near the 1.3500 level, with resistance at 1.3550. A break above 1.3550 could signal a continuation of the upward trend, with potential targets at 1.3600 and beyond.