The USDCAD is seeing bearish pressure after failing to hold above the 50% retracement level near 1.37782 yesterday. That failure shifted the bias from bullish to bearish, giving sellers the upper hand.
Today, the focus is on the 1.3722 area—a key confluence of the 100-hour moving average and the broken 38.2% retracement level
Bearish pressure below key technical levels for the USDCAD near 1.3722