The USDCAD remains directionless in the short term, trading within well-defined technical boundaries as market participants await a decisive break.
On the 4-hour chart above, price action this week has respected major moving average levels:
Tuesday’s high extended up to test the 100-day moving average, currently at 1.37954, where sellers leaned against resistance and held the line.
On the downside, today’s low briefly moved below the 100-bar moving average on the 4-hour chart, now at 1.37305, but buyers quickly stepped in, preventing further downside and halting the decline.
Between these two key MAs lies a notable swing area from 1.3749 to 1.3758 — a zone that has consistently drawn interest from both buyers and sellers. The pair is currently trading within this range, reflecting market indecision.
Key Technical Levels:
Support: 100-bar MA on the 4-hour chart – 1.37305
Resistance: 100-day MA – 1.37954
Neutral zone: Swing area – 1.3749 to 1.3758
Bottom Line: Just like USDJPY, USDCAD is stuck between moving average extremes. The battle between buyers and sellers continues within a tight range, with momentum likely to build only after a break either above the 100-day MA or below the 100-bar MA on the 4-hour chart. Until then, tactical trading within the range remains the theme.
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This article was written by Greg Michalowski at investinglive.com.Hence then, the article about usdcad technicals the usdcad is caught between the moving averages 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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