Technically, the USDCAD is coming under renewed pressure after breaking below the key support range between 1.4268 and 1.4471—a zone that had confined most of the price action going back to mid-December. This breakdown signals growing bearish momentum and shifts the focus to the next key support zones. The question now is: can sellers keep the pressure on?
That said, some dip buyers have stepped in near the March 6 low at 1.42386, offering temporary support. If that level gives way, sellers may quickly target the February lows between 1.4149 and 1.4166, followed by the 50.0% retracement and swing area near 1.4108.
On the topside, the broken range support now turns into resistance. Any rebound would need to contend with the 200-bar moving average on the 4-hour chart at 1.4319 and the 100-bar MA at 1.4357 to shift the tone back toward neutral.
? Key levels to watch Resistance:
1.4319 (200-bar MA, 4H)
Support:
1.4149–1.4166 (Feb lows)
For now, sellers hold the short-term edge, but whether that momentum extends or stalls will depend on how price reacts at the 1.4230 support area.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad breaks key support zone as sellers eye 100 day moving average breakdown next was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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