The USDCAD has spent the past six trading days consolidating in a tight range between 1.3651和1.3710. On Monday, the pair moved up to test the top of that range but met sellers once again. The subsequent dip found support near 1.36697, matching yesterday’s low (and a swing low from Friday as well), before rebounding higher in today’s U.S. session on renewed dollar buying.

The pair is now once again testing the 1.3707-1.3710阻力区, which has capped multiple rallies since last Tuesday. Although Friday's spike—driven by U.S. tariff news—briefly pushed the pair above this area, the run higher could not be sustained for long, and buyers quickly pushed the price lower, and reestablished the 1.3710 level as resistance. That failed breakout further reinforces 1.3710作为一个关键屏障.

A 突破并收于1.3710上方 would strengthen the bullish case with work to do. The 38.2%回撤至1.37208, followed by a test of last week’s high at 1.3730 would still need to be broken -and stay broken - to add to the bullish momentum.

On the downside, if sellers lean, watch for support at the 100-小时MA（1.3687） and the 200-小时MA（1.3659）. A move below both would shift the short-term bias back in favor of the sellers.

底线： Momentum is tilting higher, but 需要果断升至1.3710上方 to confirm a bullish breakout. Until then, traders remain stuck in a range awaiting a catalyst.

关键技术水平：

• 阻力： 1.3707–1.3710 (July highs), 1.3730 (Friday high), 1.3759 (next swing level)

• 支持： 1.3687 (100-hour MA), 1.3659 (200-hour MA), 1.3631

如果确认突破当前阻力区，短期偏见将转为看涨。交易员对后续行动保持警惕。