The USDCAD is testing a key technical area after rebounding from its lowest level of the year at 1.36841 yesterday, a low not seen since October. The pair had extended its slide last week after finding sellers near the 100-hour moving average at 1.3960 on May 20, eventually reaching the recent bottom yesterday.
Today, the pair is probing the 1.37498–1.37724 swing zone, which had acted as prior support. A sustained move above this area would shift short-term momentum more favorably for buyers. The next upside targets include:
The 100-hour MA at 1.37923
The 38.2% retracement and swing zone between 1.3809 and 1.3814
Staying below these resistance levels keeps sellers in control, but a break above could open the door for a deeper retracement of the recent decline.
Key Levels:
Support: 1.37498 (close support from swing area in April/May), 1.3684 (yearly low)
Resistance: 1.3772 (high swing zone), 1.3792 (falling 100-hour MA), 1.3814 (38.2% retracement)
Traders will be watching for confirmation of direction at this inflection point, with a break above resistance shifting short-term bias to the upside.
Adam Button spoke on the USDCAD in an interview yesterday on BNN Bloomberg TV.
You can see the interview here:
www.forexlive.com/news/adam-button-spoke-on-bnn-bloomberg-making-a-bullish-case-for-the-canadian-dollar-20250527/
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad technicals recovery stalls at key resistance zone after bounce from yearly low 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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