USDCAD is confined to a slender vary and ready for the following shove

The USDCAD traded inside a slender 84-pip vary final week, with uneven up-and-down worth motion. Initially, the pair stalled towards the 200-hour transferring common (1.4210) after breaking above the 100-hour transferring common (1.4200). As these transferring averages converged, worth actions above and under them lacked momentum, reflecting indecision amongst merchants.

Right this moment, USDCAD opened above the transferring averages, dipped under them through the Asian session, and has since rebounded above these ranges. Nonetheless, momentum stays weak, with merchants searching for a stronger push in both course. Technically, patrons maintain a slight benefit above the 100-hour transferring common at 1.4200, which serves as key short-term assist.

On the upside, a break above final week’s highs at 1.4235–1.4246 would strengthen the bullish bias, with a possible transfer towards the 1.4260–1.4269 resistance zone. Conversely, a drop under 1.4200 might shift focus to final week’s low at 1.4165, adopted by the year-to-date low at 1.4150 and the rising 100-day transferring common at 1.4133, a degree not breached since October 2024.

Technical Ranges:

Assist:

• 1.4200 – 100-hour transferring common (key short-term assist)
• 1.4165 – Final week’s low
• 1.4150 – Yr-to-date low
• 1.4133 – Rising 100-day transferring common (not damaged since October 2024)

Resistance:

• 1.4235–1.4246 – Final week’s highs (breakout level for bullish momentum)
• 1.4260–1.4269 – Subsequent key resistance/swing space

Thers is room to roam, to the topside however the baby-steps have to be taken first.

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



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