USDCAD rebounds off lows however faces key check at 100-hour MA

The USDCAD is trying to stage a restoration after posting a brand new low yesterday at 1.38278—the bottom stage since November 2024. The bounce larger has taken the pair again as much as check the 100-hour transferring common, presently at 1.3952. This stage represents the primary main technical hurdle for patrons.

A sustained transfer above the 100-hour MA would shift the short-term bias extra to the upside a minimum of within the brief time period, and open the door for an extra rise towards the following key goal: the 200-day transferring common close to the 1.4000 stage.

Nevertheless, failure to interrupt above the 100-hour MA would reinforce it as resistance and preserve sellers in agency management, particularly with the broader downtrend nonetheless intact.

Key ranges:

• Help: 1.3925-30, 1.38278 (multi-month low)

• Resistance: 1.3952 (100-hour MA), 1.4000 (200-day MA)

Momentum near-term hinges on the battle on the 100-hour MA. Merchants can be watching carefully for a directional break.

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



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