USD/CAD stalls below key 1.3920 resistance – Société Générale

USD/CAD is struggling to clear the August high at 1.3920, signaling fading upside momentum. A sustained failure to break this level keeps risks skewed lower, with 1.3720 pivotal for the next move, Société Générale's FX analysts note.

Pair hovers near 50-DMA amid fading momentum

"USD/CAD has struggled to overcome the August high of 1.3920, underscoring a lack of consistent upward momentum. The pair is currently hovering around the 50-DMA. While a brief rebound cannot be ruled out, failure to surpass the 1.3920 resistance may result in a continued decline toward the recent pivot low at 1.3720."

"Should USD/CAD break this support, the downward move could extend further, with next targets at projections of 1.3600/1.3535."