According to Societe Generale’s Kenneth Broux, the USD/CAD currency pair has broken above a significant descending trendline and the upper boundary of a multi-month base, indicating renewed upside momentum for the pair [1]. The bank identifies potential for further gains, projecting targets in the 1.4030 to 1.4090 range, with the possibility of reaching the November 2025 peak near 1.4150 [1]. In the event of a pullback, the 1.3940/1.3900 area is expected to serve as initial short-term support [1].
Broux emphasizes that the breakout above the trendline drawn from 2025 and the multi-month base signals that upward momentum is regaining strength [1]. The analysis suggests that the USD/CAD uptrend could continue, with the next resistance zones clearly outlined [1].
No specific market reactions, analyst opinions beyond Societe Generale’s outlook, or forward-looking statements from other sources are provided in the article [1].
CONCLUSION
Societe Generale’s technical analysis points to a bullish outlook for USD/CAD, with upside targets up to 1.4150 and support at 1.3940/1.3900. The breakout above key technical levels signals renewed momentum for the pair, suggesting further gains may be likely.