USD/CAD Stuck in No-Man's Land Below Key Moving Average
USD/CAD bears can't seal the deal despite three rejections at the 100-hour MA. Bulls keep defending the range floor.
USD/CAD is giving traders a headache right now. The pair keeps getting smacked down at the falling 100-hour moving average — sitting at 1.41685 — for the third consecutive session. Wednesday, Thursday, today. Same level, same rejection. The short-term bias is bearish on paper, but the follow-through simply isn't there.
Here's the frustrating part if you're short: the pair already broke below a critical support zone at 1.41297–1.41386 — a floor that held firm since June 18. Friday's drop even stretched to 1.41166. That should've been a momentum trigger. Instead, buyers stepped right back in and erased the move. Today, the pair dipped to 1.41260 — again below that swing area — and again buyers showed up. You can't ignore that twice in a row.
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So what's the trade? Watch 1.41488 as your first line in the sand. If price reclaims and holds above that level, the next target is the 100-hour MA at 1.41685. A clean break above that moving average flips the script entirely and hands control back to buyers. Until that happens, you're stuck in a choppy, two-sided range that's punishing both sides.
The bottom line: sellers have the technical edge but lack the firepower to push meaningfully lower. Buyers keep absorbing the dips but haven't done enough to reclaim key resistance. This is a range trader's market right now — breakout players should wait for confirmation before committing. A decisive move through 1.41685 or a clean breakdown below 1.41166 is your signal.
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