USDCAD breaks below the 100 hour MA. Can the momentum lower continue? ...Middle East

In the North American session, USDCAD broke below the 100-hour MA (now 1.41947), reinforcing downside momentum. A swing area between 1.4194 and 1.4208 now acts as immediate resistance—staying below keeps sellers in control, while a move back above could signal a failed breakdown.

Resistance: 1.4194 - 1.4208 (swing area), 1.42176 (200-hour MA)Support: 1.4150 (February low), 1.41194 (rising 100-day MA)

A break below 1.4150 would open the door for a test of the 100-day MA at 1.41194, a level USDCAD has not traded below since October 8.

This article was written by Greg Michalowski at www.forexlive.com.

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