The USDCAD is extending to fresh session highs, and in the process, has moved back above the 38.2% retracement of the 2025 trading range, which comes in at 1.40176.
Reclaiming that level strengthens the bullish bias on the daily chart, signaling that buyers are regaining technical control after the recent consolidation. From a trading perspective, the 1.40176 area now becomes a key risk level — serving as a close-in line of defense for buyers looking to build on the upside momentum and push the pair toward the next resistance targets.
If the price were to move back below the 38.2% retracement, I would think there would be disappointment on the failure of the break. It’s go time for the buyers. Can they keep the momentum going?
