USDCAD finds sellers against the falling 100 hour MA keeping the sellers in control

The USDCAD broke lower last week, falling below the key support zone (1.4260 – 1.4466), signaling a shift in control to sellers. Earlier in the month, a price spike above this range on Canada tariff news was quickly reversed. Now, as long as the pair remains below this range, sellers maintain control.

On the resistance side, the 100-hour moving average (1.4214) serves as a key barrier. Today’s price briefly tested this level but faced strong selling pressure, aided by stronger-than-expected Canadian CPI data.

For further downside confirmation, watch the 1.4194 – 1.4208 swing area—a break below this range could give sellers more confidence in short-term trading.

The video above provides a detailed technical breakdown. Stay aware. Stay prepared.

This article was written by Greg Michalowski at www.forexlive.com.