USDCAD buyers defend support above March swing zone

Bulls are leaning on a support area that has held in prior sessions.

Last Friday, USDCAD fell to a low of 1.39676, pausing just above the 1.3948–1.3963 swing area that has been relevant since late March 2025. Buyers defended that zone last week and have repeated the move during today's trading.

Today's low came in at 1.3971, marginally above Friday's low and the underlying swing area. The repeated defense gives buyers a level to anchor their risk. However, holding support is only one part of the challenge; they must also overcome resistance.

Resistance near 1.4000 is capping the recovery.

Sellers are leaning against the natural resistance level at 1.4000, which keeps the pair in a tight intraday range. A sustained break in either direction would allow more room to develop.

If buyers push above 1.4000, attention would turn to a cluster of moving-average levels:

• The 100-hour moving average is at 1.4018.

• The 200-hour moving average is at 1.40353.

• The 100-day moving average is at 1.40458.

Those moving averages were broken to the downside earlier this week and now act as recovery benchmarks. Getting above each would give buyers another technical victory. Moving above and staying above all three would strengthen their grip.

Beyond the averages, yesterday's double top near 1.4068 marks the next hurdle. That level also sits at the bottom of a swing area extending to 1.40801. Sellers defended it twice yesterday, reinforcing its importance.

A break below support would put the 200-day moving average in play.

For sellers, the first step is to break below today's low at 1.3971 and Friday's low at 1.39676. That would bring the 1.3948–1.3963 swing area into focus.

Getting below 1.3948 would be the more decisive technical break. It would take the price through the full support area and open the door for a move toward the 200-day moving average at 1.3885.

Until that support gives way, sellers still face the risk of another bounce from familiar levels.

The broader range remains the trading roadmap.

Stepping back, USDCAD has largely consolidated between 1.3967 and 1.4080 since October 19. Multiple swing highs and lows have reinforced the extremes, while the moving averages in between continue to help define the bias.

Ultimately, the price needs to break outside that broader range—and sustain the break—to give traders a clearer directional signal.

The immediate battle is defined by support near 1.3970 and resistance at 1.4000, with the broader range providing the roadmap beyond.