{"id":439039,"date":"2026-09-29T23:40:15","date_gmt":"2026-09-29T16:40:15","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/usdcad-technicals-the-buyers-continue-to-trend-the-usdcad-higher-and-higher-439039\/"},"modified":"2026-09-29T23:40:15","modified_gmt":"2026-09-29T16:40:15","slug":"usdcad-technicals-the-buyers-continue-to-trend-the-usdcad-higher-and-higher","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/usdcad-technicals-the-buyers-continue-to-trend-the-usdcad-higher-and-higher-439039\/","title":{"rendered":"USDCAD Technicals: The buyers continue to trend the USDCAD higher and higher"},"content":{"rendered":"
\n

Last week\u2019s question: Was the high in place?<\/p>\n

In last week\u2019s video, I asked whether the USDCAD\u2019s high was in place (see video from last week by clicking on the image below).<\/p>\n

<\/a><\/p>\n

The question centered on a swing area between 1.41297 and 1.41488. After a move from the September 8 low at 1.37588 to the September 24 high near 1.41488, buyers had covered a lot of ground in a short time. That area looked like a reasonable place for the rally to stall.<\/p>\n

The test for sellers was whether they could push the price below 1.41297 and keep it there. They could not. The pair waffled around the area on Friday, then started to stretch higher yesterday. That move has continued today, taking USDCAD to a new high going back to July 7.<\/p>\n

Buyers defend the rising channel<\/p>\n<\/p>\n

On the hourly chart above, the price corrected from today\u2019s intraday high at 1.4201 to 1.4175. That decline tested the lower trendline of a rising channel, where buyers stepped in. As long as the price holds above that trendline, the buyers remain in firm control and the upward trend remains intact.<\/p>\n

What would give sellers an opening?<\/p>\n

A break below the channel trendline would give sellers some hope, but it would be only a first step. They would still need to get below the 1.41297\u20131.41488 swing area and stay below it. If that happens, I would expect a deeper correction, with the rising 200-hour moving average at 1.40834 becoming the next target.<\/p>\n

Where could buyers target next?<\/p>\n

Until sellers can do that work, the upside remains the path of least resistance. The next major target is a group of swing highs from late June and early July between 1.4238 and 1.4247 (see chart below). The upper trendline of the rising channel, which moves higher with each passing hour, is another level to watch and target. Moving above would give the buyers even more control..<\/p>\n<\/p>\n

Key technical levels<\/p>\n<\/p>\n