USDCAD Technology
usdcad skyrocketed yesterday, Re-enter the “red box”a key integration range including price action from December to early February (See the chart above). Within this range, the pair initially spiked higher supporters Trump's announcement on 25% tariffs on Canadian imports Early February. However, after the same day's tariffs were postponed, Prices have returned to the red boxeventually find support at the bottom boundary.
Above February 13thusdcad is broken Under the red boxcaused momentum-driven decline 1.4150. Last week, the pair These losses have been combinedit will be choppy. but, This week we saw an updated momentumpushes back the price Red box It shows changes in market emotions.
The USDCAD was collected at the meeting A fall in moving average of 100 bars on the 4-hour chart (1.4263). Price action fluctuated during today's session Moving average of 200 bars (1.4334) Before you get into high News that Trump will advance tariffs in March on Canadian imports.
Important technical level to watch
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Support Level:
- 1.4395 – 38.2% retracement of February trading range
- 1.4366 – Yesterday's height
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Resistance level:
- 1.4448-1.4471 – Red box swing area and upper limit
- 1.4459 – 50% retracement of February trading range (added confluence)
- 1.4471 – A confirmed break above this level will strengthen bullish momentum
and Buyers regain controlfocus on whether or not 1.4395-1.4366 Keep as support. High sustained pushes can be challenging 1.4448-1.4471 Resistance zone. Top break 1.4471 Check for further upward potential and open the door for extended movement.
