The USDCAD story remains largely unchanged today. Earlier this week, the pair broke above a key swing area between 1.4010 and 1.4026, which also included the 38.2% retracement of the 2025 trading range at 1.40212. That technical break gave buyers the green light, driving the pair to its highest level since April, with Tuesday’s high reaching 1.40792 before a corrective pullback.
Since then, buyers have successfully defended support near the prior breakout zone, keeping the short-term bullish bias intact. As long as the price holds above the 1.4010–1.4026 area, the benefit of the doubt stays with the buyers. However, upside momentum has been contained, with yesterday’s high at 1.40589 and today’s at 1.40545, showing signs of hesitation.
A break above those nearby highs would likely invite momentum toward the psychological 1.4100 level, followed by the 50% midpoint of the 2025 trading range at 1.41696, which sits inside a broader swing zone between 1.41498 and 1.41836
