The USDCAD has moved back above a previously broken trend line on the hourly chart, offering buyers a 小的战术胜利. However, to build a more convincing bullish bias, the pair still needs to 升至并保持在100小时移动平均线上方, currently near 1.3611.

Since peaking on 五月13, the pair has been in a steady downtrend. There have been several corrective attempts to push above the 100-hour moving average during the decline, but each time the price approached the higher 200-小时均线, momentum quickly faded, and the pair resumed its move lower. The most recent example was on 周二, when a brief move above the 200-hour MA failed to attract sustained buying interest.

For now, buyers are trying to stabilize the pair, but 负担仍然落在他们身上 to prove they can hold above key technical levels to shift the short-term narrative. The first target above is a 100 hour moving average and then the 200 hour moving average – coupled with a downward trend line near 1.36457 becomes another hurdle.

Longer term, the low reached yesterday, took the pair to the lowest level going back to early October. The 2024年9月，该货币对的低点达到1.34233。这接近2024年3月相同水平的低点. If momentum to the downside should accelerate, those lows would be targeted.