The USDCAD continues to trade with a bearish tilt as the 100-hour (1.38197) and 200-hour (1.38394) moving averages act as a ceiling for price action. Each of the last three upside attempts has stalled near these levels, reinforcing their role as risk-defining resistance.
While lows have edged slightly lower, downside momentum has been limited
USDCAD sellers stay in control as moving averages cap rallies