The USDCAD is attempting to stage a recovery after posting a new low yesterday at 1.38278—the lowest level since November 2024. The bounce higher has taken the pair back up to test the 100-hour moving average, currently at 1.3952. This level represents the first major technical hurdle for buyers.
A sustained move above the 100-hour MA would shift the short-term bias more to the upside at least in the short term, and open the door for a further rise toward the next key target: the 200-day moving average near the 1.4000 level.
However, failure to break above the 100-hour MA would reinforce it as resistance and keep sellers in firm control, especially with the broader downtrend still intact.
Key levels:
Support: 1.3925-30, 1.38278 (multi-month low)
Resistance: 1.3952 (100-hour MA), 1.4000 (200-day MA)
Momentum near-term hinges on the battle at the 100-hour MA. Traders will be watching closely for a directional break.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad rebounds off lows but faces key test at 100 hour ma 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.
Read More Details
Finally We wish PressBee provided you with enough information of ( USDCAD rebounds off lows but faces key test at 100-hour MA )
Also on site :
- Musk mulling mega-mergers – Bloomberg
- Can Cell Phones Stop ICE?
- Kurdish-led SDF agrees integration with Syrian government forces