Tariffs are a big driving influence in the USDCAD. If there is a threat, the USDCAD tends to go higher. If the pressure is off, the price can wander lower. The so-called "Liberation Day" is on April 2 and that has the markets concerned and with it the USDCAD higher.
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.
In early North American trading, price action has climbed back above both the 100- and 200-bar moving averages on the 4-hour chart, currently at 1.4318 and 1.4344 respectively. Holding above these levels shifts short-term bias in favor of the bulls.
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.
On the downside, a move back below 1.4318 and especially 1.4269 would negate this bullish tilt and place sellers back in control, with 1.4236 and 1.4168 acting as next supports.
Key technical levels:
Support: 1.4318 (200-bar MA), 1.4269 (swing + 100-day MA), 1.4236
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
Finally We wish PressBee provided you with enough information of ( USDCAD technical analysis: Buyers hold above key MAs, eyes shift back toward 1.4471 )
Also on site :
- ‘A Space for All of Us’ — How Cuban Culture Comes Alive in ‘Buena Vista Social Club’ (Exclusive)
- Spain hosts European, Arab nations to pressure Israel on Gaza
- Taylor Swift and Travis Kelce break cover after being spotted on date night close to $20 million love bunker