The USDCAD edged to a marginal new high for the year—stretching just a pip beyond the January 23 peak to 1.3755 (vs. 1.3754)—before quickly running into resistance. From there, price action reversed sharply following the Trump Truth Social headline, triggering a swift move lower.
That downside momentum carried the pair into a key confluence zone, including the 200-hour moving average at 1.3687 and swing lows from March 17 and 18 (1.3679–1.3687). The decline stalled at 1.3685, where buyers stepped in to stabilize the move.
Since then, price has settled into a more two-way, rotational pattern. The pair is now oscillating around the 100-hour moving average at 1.37165, which sits within a broader swing area between 1.37149 and 1.3724. This zone is emerging as the near-term pivot and will serve as the key barometer for directional bias.
- Above 1.37149–1.3724: Buyers gain control, with a retest of the 1.3754–1.3755 highs as the next upside target.
- Below 1.37165: Sellers regain momentum, shifting focus back toward the 200-hour moving average near 1.3683.
This article was written by Greg Michalowski at investinglive.com.
