USD/CAD Breaks Above 1.3900 on Bullish USD Momentum

USD/CAD has accelerated higher to trade near 1.3905 by June 4 after consolidating near 1.3850 in early June. The pair surged from the May 14 low of 1.3549 to a May 28 peak of 1.3870, breaking above the 200-day MA and 61.8% Fibonacci retracement before stalling at the 78.6% level near 1.3877. Renewed USD strength from hawkish Fed expectations and stronger US jobs data has outweighed rising oil prices supporting the CAD, pushing the pair through 1.3900 resistance. Technical momentum remains constructive above the 100-day SMA, with next targets near 1.3965.