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      USDCAD Tests Key Resistance Level Amid Bullish Momentum

      The USDCAD currency pair has experienced a significant upward movement over the past three weeks, rising from a low of approximately 1.3760 on September 8 to a current high of 1.4080. This increase of around 320 pips has been bolstered by a series of bullish technical breaks, including surpassing the 200-day moving average on September 11 and the 100-day moving average on September 16.

      As of today, the pair is testing the 1.4080 resistance level, which aligns with swing highs from early August. A sustained break above this level could signal further bullish momentum, with potential targets set between 1.4129 and 1.4148, and ultimately the June high of 1.42474. However, the immediate focus remains on whether buyers can maintain control above this critical resistance point.

      While buyers currently dominate, the situation remains delicate. The 61.8% retracement level at 1.40503 has become a key risk-defining area for traders. A drop below this level could raise concerns about the sustainability of the recent rally, with further support found near the 50% retracement at 1.39894. Should the price fall below this support zone, it may indicate a shift in momentum towards sellers, potentially leading to a deeper correction.

      © 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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