USDCAD sellers remain in control below swing area and 100 hour MA

AI summary

<p>The USDCAD is down modestly on the day, slipping -0.07% after an early push higher failed to gain traction above key resistance. The pair briefly moved above its 100-hour moving average and into a swing area between 1.3620 and 1.36305, but the lack of follow-through opened the door for sellers to reassert control into the North American session.</p><p>The price has since rotated back below that zone and is currently trading near 1.3613. Despite the downside bias, price action remains subdued, with a narrow 25-pip range on the day (1.3605 to 1.3630). That limited movement reflects a market still searching for conviction—but importantly, sellers are keeping a lid on rallies below the 1.3630 level, which tilts the bias modestly to the downside and keeps buyers on the defensive.</p><p>Looking lower, the next downside target comes in between 1.3593 and 1.3600. A break below that area would increase bearish momentum and open the door for a move toward 1.3549. Below that, traders will look to the February and March swing lows between 1.3522 and 1.3532, followed by the February 11 low at 1.3503 and the year-to-date low from January 30 at 1.3482.</p><p>For buyers to regain control, the price would need to move back above 1.36305 and then clear the 200-hour moving average at 1.36421. A sustained break above that zone would shift the bias, giving buyers more confidence while forcing sellers to reassess.</p> This article was written by Greg Michalowski at i