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      USDCAD Buyers Maintain Momentum After Correction

      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.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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