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The USDCAD currency pair has shown resilience following a recent correction, bouncing off the 200-hour moving average after reaching a high of 1.42928 on October 2, 2026. This peak was near the 61.8% retracement level from a downward trend that began in early February 2025. Sellers initially took control, pushing the price lower after breaking below the rising 100-hour moving average, which indicated a shift in momentum.
However, the decline found support around 1.4207, where buyers re-entered the market during the Asian-Pacific trading session. This support from the 200-hour moving average allowed the price to recover and move back above the 100-hour moving average, currently positioned at 1.42426. As of now, the USDCAD is trading near 1.4250, suggesting a more bullish short-term outlook as long as it remains above this key moving average.
The next significant resistance level for buyers is the previously mentioned high of 1.42928. A sustained move above this level could lead to further gains. Conversely, if the price falls below the 100-hour moving average, it may signal a return to bearish pressure, with potential targets at Friday's low of 1.4192 and a swing area near 1.4150. This price action highlights the ongoing battle between buyers and sellers in the foreign exchange market.
Source: KLEA News