Technically, the USDCAD is showing renewed bullish momentum after bouncing from a key support confluence last week. The pair found buyers near the 100-day moving average at 1.4269, which also aligns with a key swing area dating back to December. The failed break below this zone resulted in a sharp rebound, keeping the broader range structure intact.
The next upside target lies within the 1.4448–1.4471 resistance area—an upper boundary that has repeatedly capped rallies for over three months. A break above this zone would suggest a potential breakout from the prolonged range and could open the door toward 1.4495 and even 1.4660, if supported by fundamentals like tariff developments.
Key technical levels:
Resistance: 1.4401 (high from last week), 1.4448–1.4471 (key range), 1.45399 (high price from March)
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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