USDCAD rises above the 100 day MA | investingLive

The USDCAD has broken above its 100-day moving average for the first time since April, signaling a potential shift in trend. The moving average—currently at 1.38279—had been sloping steadily downward, reflecting the sustained bearish bias of recent months. However, today’s breakout marks a key technical milestone.

The pair is currently trading around 1.3835, having reached a session high of 1.3841. While the 100-day MA is still declining, the fact that price has also broken above a two-month consolidation range strengthens the bullish case.

Immediate support now comes in at the June high of 1.3797. Holding above this level keeps buyers in control and sustains the breakout narrative. A break back below would risk slipping back into the old range and dull near-term momentum.

On the topside, the next key target is the May 29 high at 1.3859. A move above that would open the door toward a key swing zone between 1.3928 and 1.3978, defined by multiple highs and lows (see red numbered circles on the chart).

Summary of key levels: