USDCAD Technicals: Recovery stalls at key resistance zone after bounce from yearly low

The USDCAD is testing a key technical space after rebounding from its lowest degree of the 12 months 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 transferring common at 1.3960 on Might 20, finally reaching the current backside yesterday.

Immediately, the pair is probing the 1.37498–1.37724 swing zone, which had acted as prior assist. 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:

• Help: 1.37498 (shut assist from swing space in April/Might), 1.3684 (yearly low)

• Resistance: 1.3772 (excessive swing zone), 1.3792 (falling 100-hour MA), 1.3814 (38.2% retracement)

Merchants will probably be expecting 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 possibly can 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/