The USDCAD is again in acquainted space after the run to new excessive going again to 2003 retraces

The upside breakout continued yesterday, with USDCAD surging previous the 2020 excessive of 1.4660 and reaching ranges not seen since 2003. The rally peaked at 1.47924 earlier than reversing decrease. After fluctuating round 1.4660, sellers gained management as Mexico secured a 30-day tariff reprieve. Canada adopted go well with with comparable border management measures, prompting President Trump to grant the identical extension—sending USDCAD decrease.

In the present day, European session volatility noticed each positive aspects and losses, however resistance held close to the 100-hour shifting common and the important thing 1.4500 degree. Sellers regained momentum, driving the pair under the 200-hour MA at 1.44379. This transfer additionally brings the “Purple Field” vary—established since December 17 between 1.4290 and 1.4466—again into focus, with 1.4466 now appearing as resistance.

Within the video, I break down the volatility, key technical ranges, and what to look at subsequent. Whereas market swings can reemerge at any time, the 30-day reprieve might result in consolidation inside the acquainted “Purple Field.” Time will inform.

This text was written by Emma Wang at www.ubaidahsan.com.



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