However, the move lacked follow-through. Momentum quickly faded, and profit-taking, along with fresh selling interest, pushed the price back down. The inability to sustain the break is a reminder of the pair’s broader trading conditions: buyers are still probing higher, but conviction remains limited.
From a broader perspective, USDCAD has struggled to establish a sustained trend. Since the second half of July, the pair has been confined to a 1.3720–1.3923 range, creating a market defined more by swings than directional conviction. At August highs, the price not only ran into resistance at the upper swing area but also tested the 38.2% retracement of the decline from the March high, which comes in at 1.3923. That level capped the upside, attracting willing sellers and reinforcing the notion that rallies remain opportunities for fade trades until proven otherwise.
That was then, this is now. For now, traders will be watching whether the 1.3804 zone holds. A bounce from that level could set the stage for another test higher within the range, while a decisive break below would open the door for a move back toward the lower boundary of the range near 1.3720.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about usdcad technicals same story different day price has support at converged mas at 1 3804 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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