On the policy front, Prime Minister Carey dialed back some retaliatory tariffs, opening the door for further negotiations, though the news had little market impact.
Price action in the USDCAD has mirrored this sense of caution and uncertainty. On the downside, buyers have consistently emerged within a swing area between 1.38127 and 1.38315, just above the rising 100-bar MA on the 4-hour chart at 1.38072 (see chart above). This zone has provided a solid floor, and it would take a decisive break below to tilt the bias more bearish.
For now, the USDCAD remains caught between well-defined support and resistance levels, reflecting the broader uncertainty noted by the BoC. Traders will be watching closely for a breakout with momentum to establish the next directional move. The video above highlights these levels in detail and explains why they matter.
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