USD/CAD: Downtrend Reversal Targets 61.8% Retracement at 1.4290

USD/CAD posted a strong extended rally last week, signaling a likely reversal of the broader downtrend from the 1.4791 high. The pair is now eyeing the 61.8% Fibonacci retracement of the 1.4791–1.3480 decline, placing the key resistance target at 1.4290. Minor support sits at 1.4092, which acts as the immediate downside buffer. Bias remains bullish heading into this week, with the upside favored as long as 1.4092 holds. A break below that level would neutralize the intraday outlook and invite consolidation before any renewed push higher. Traders should monitor price action around 1.4092 closely for early directional clues.