USD/CAD Sellers Stall as 100-Hour Moving Average Holds Firm
USD/CAD bears fail to sustain breaks below key support for the third straight session, leaving the pair trapped in a tight technical range.
USD/CAD sellers are running out of room to maneuver Monday after the currency pair once again failed to push meaningfully lower, stalling near critical technical levels that have defined short-term price action for several sessions. The 100-hour moving average, sitting at 1.41685, has now rejected bullish advances on three consecutive occasions, cementing a bearish short-term bias — yet bears cannot deliver a decisive downside break either.
The frustration for sellers began building last Friday, when the pair sliced beneath the 1.41488 swing level and breached a well-established support zone spanning 1.41297 to 1.41386 — a band that had held as support since a breakout above it on June 18. Price extended as low as 1.41166, but the selling pressure evaporated quickly and buyers stepped back in to defend that territory.
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Monday brought an immediate replay of that script. USD/CAD dipped to 1.41260, trading once more below the swing area, yet sellers could not sustain the downside momentum needed to trigger a broader move. The rapid recovery back into range suggests buyers remain committed to defending the lower boundary and are unwilling to concede ground cheaply.
Technically, the pair is caught in a tug-of-war with clearly defined battle lines. Bulls need a clean reclaim of 1.41488 first, and then a definitive break above the 100-hour moving average at 1.41685 to shift control in their favor. Until that happens, the path of least resistance remains ambiguous — bears hold the short-term bias but lack the momentum to capitalize on it.
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