USDCAD is coming under renewed pressure after breaking below the key support range between 1.4268 and 1.4471—a zone that had confined most of the price action going back to mid-December. This breakdown signals growing bearish momentum and shifts the focus to the next key support zones. The question now is: can sellers keep the pressure on?

Adding to the bearish technical bias, the pair has also dipped below the 38.2% retracement of the rally from the September 2024 low, which comes in at 1.42697. Price is also flirting with the 100-day moving average at 1.4255, currently trading above and below the level, suggesting an ongoing battle for directional control. A firm break below both levels would confirm the shift in bias toward the downside.

That said, some dip buyers have stepped in near the March 6 low at 1.42386, offering temporary support. If that level gives way, sellers may quickly target the February lows between 1.4149 and 1.4166, followed by the 50.0% retracement and swing area near 1.4108.

On the topside, the broken range support now turns into resistance. Any rebound would need to contend with the 200-bar moving average on the 4-hour chart at 1.4319 and the 100-bar MA at 1.4357 to shift the tone back toward neutral.

📌 Key levels to watch

Resistance:

Support:

For now, sellers hold the short-term edge, but whether that momentum extends or stalls will depend on how price reacts at the 1.4230 support area.