The USDCAD pushed higher into yesterday’s close and extended that momentum through the Asian Pacific and early European sessions. The buyers drove the pair up toward the falling 100-hour moving average, but sellers re-emerged at that technical barrier and capped the advance.
In the North American session, the pair rotated lower and has now slipped back toward a key swing zone between 1.3968 and 1.3975. The price stalled against the top of that area and is currently trading near 1.39827.
What happens next will hinge on that swing zone. A break below 1.3968–75 would tilt the bias more firmly to the downside and re-open the path toward the 50% midpoint that halted Friday’s decline
USDCAD Technicals: USDCAD finds resistance at the 100 hour MA. Falls back to swing area.
