USDCAD technicals
The USDCAD is testing a key technical space after rebounding from its lowest degree of the yr at 1.36841 yesterday, a low not seen since October. The pair had prolonged its slide final week after discovering sellers close to the 100-hour shifting common at 1.3960 on Might 20, finally reaching the current backside yesterday.
At present, the pair is probing the 1.37498–1.37724 swing zone, which had acted as prior help. A sustained transfer above this space would shift short-term momentum extra favorably for patrons. The subsequent upside targets embody:
Staying beneath these resistance ranges retains sellers in management, however a break above may open the door for a deeper retracement of the current decline.
Key Ranges:
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Help: 1.37498 (shut help from swing space in April/Might), 1.3684 (yearly low)
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Resistance: 1.3772 (excessive swing zone), 1.3792 (falling 100-hour MA), 1.3814 (38.2% retracement)
Merchants might be looking forward to affirmation of course at this inflection level, with a break above resistance shifting short-term bias to the upside.
Adam Button spoke on the USDCAD in an interview yesterday on BNN Bloomberg TV.
You’ll be able to see the interview right here:
https://www.forexlive.com/information/adam-button-spoke-on-bnn-bloomberg-making-a-bullish-case-for-the-canadian-dollar-20250527/
Adam Button on BNN Bloomberg
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