The USDCAD pair rose during its recent intraday trading due to the stability of the support level at 1.3875, following a decline that aimed to correct the main short-term uptrend. The pair continues to move along a supportive trendline, benefiting from dynamic support as it trades above the EMA50.

Additionally, positive signals emerging from the relative strength indicators after reaching deeply oversold levels, which increases the positive momentum surrounding the pair in the near term.