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      USDCAD Climbs to Monthly High After Failed Downward Break

      The USDCAD currency pair has experienced a significant upward trend since hitting a low of 1.3759 on September 8, 2026. The price surged to a new monthly high of 1.4224, marking an increase of 465 pips, or approximately 3.38%. Despite a brief attempt by sellers to reverse this trend, their efforts were unsuccessful, allowing buyers to regain control of the market.

      During the late Asian-Pacific and early European trading sessions, the USDCAD fell below a rising trendline at 1.4192 and dipped to a session low of 1.4155. However, the anticipated momentum from sellers did not materialize, and the price quickly reversed direction. This rebound pushed the pair back above the 100-hour moving average, which is currently at 1.4168, and the broken trendline, reinforcing the buyers' position.

      As the price approaches the next major resistance area between 1.42385 and 1.42474, traders may consider taking profits from the recent gains. A sustained move above 1.42474 could lead to further increases, potentially reaching 1.42928, which represents a key retracement level. Conversely, if the price falls below the 100-hour moving average, it could signal a weakening of the bullish trend, prompting sellers to re-enter the 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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