USDCAD 100-day MA stayed in focus on Tuesday as the pair held a narrow 16-pip range near a key support zone.
Sellers still held the broader edge after Friday’s stronger-than-expected Canadian jobs report and weaker-than-expected U.S. employment report. Those releases pushed USDCAD lower and sent it below the swing area between 1.3948 and 1.3966. However, the pair has not yet broken the rising 100-day moving average at 1.39167.
Friday’s low touched 1.39248. Meanwhile, Monday’s low and Tuesday’s low both held near 1.3929, just above that moving average. As a result, repeated tests have kept attention on the 100-day MA as a key support level.
USDCAD 100-Day MA Holds as Support
If sellers want firmer control, they need to push the pair below 1.39167. A break under that level would bring the 50% midpoint of the move up from the May 1 low into view at 1.3899. If that level gives way, the next area to watch is the 200-day moving average at 1.38547.
The source noted that USDCAD last traded below its 100-day moving average on May 14, when that average stood near 1.3715. From there, the pair later rose to its 2026 high of 1.4247 on June 24 before turning lower again.
Buyers Need to Retake Broken Swing Area
On the upside, buyers first need to regain 1.3948, which marks the low of the broken swing area. Above that, the next target stands at 1.3966. Additionally, the falling 100-hour moving average at 1.39812 remains another resistance point.
A move above the 100-hour moving average would mark a stronger short-term shift. That would open the way toward the 200-hour moving average near 1.4009. However, buyers would need to get above that 200-hour level and stay there to take control from sellers.
For now, sellers remain in charge overall. Even so, the USDCAD 100-day MA has acted as stubborn support over the past two trading days.
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Source: InvestingLive
