{"id":439641,"date":"2026-10-08T00:21:49","date_gmt":"2026-10-07T17:21:49","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-usdcad-buyers-survive-the-correction-by-bouncing-off-the-200-hour-ma-439641\/"},"modified":"2026-10-08T00:21:49","modified_gmt":"2026-10-07T17:21:49","slug":"the-usdcad-buyers-survive-the-correction-by-bouncing-off-the-200-hour-ma","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-usdcad-buyers-survive-the-correction-by-bouncing-off-the-200-hour-ma-439641\/","title":{"rendered":"The USDCAD buyers survive the correction by bouncing off the 200 hour MA"},"content":{"rendered":"<div>\n<p>The USDCAD has been on a steady climb since bottoming near 1.3759 on September 8. On Monday, that rally reached 1.42928, right near the 61.8% retracement level of the longer-term move down from the early February 2025 high price (see the chart below).<\/p>\n<\/p>\n<p> Sellers leaned against that resistance, defined their risk, and pushed the price lower.<\/p>\n<p>Yesterday, the correction lower gained momentum after the price tested and then broke below its rising 100-hour moving average (blue line on the chart below). That break gave sellers another reason to press to the downside.<\/p>\n<p>However, the buyers had a level to lean against too.<\/p>\n<p>After the price decline further, the decline stalled near 1.4207 late yesterday and into today\u2019s Asian-Pacific session, where the rising 200-hour moving average provided support. Buyers stepped in against that level and have since pushed the price back above the 100-hour moving average, currently at 1.42426. The current price is near 1.4250. The bias in the short-term is more bullish above that moving average.<\/p>\n<p>The chart below shows how those technical levels have helped define the battle between buyers and sellers.<\/p>\n<\/p>\n<p>Buyers survive the correction. Can they build on the bounce?<\/p>\n<p>The bounce from the 200-hour moving average kept the broader bullish trend intact. Moving back above the 100-hour moving average gives buyers more control in the shorter term. Now they need to hold that break.<\/p>\n<p>Stay above 1.42426, and the next upside target is Monday\u2019s high and the 61.8% retracement near 1.42928. Getting above that resistance\u2014and staying above it\u2014would open the door for another extension higher.<\/p>\n<p>Conversely, a move back below the 100-hour moving average with momentum would weaken the recovery and put the rising 200-hour moving average back in focus. That moving average is now at 1.42146 and continues to move higher.<\/p>\n<p>With buyers having successfully defended it during the latest correction, its importance has increased. A break below would give sellers more control, with Friday\u2019s low at 1.4192 followed by the swing area near 1.4150 becoming the next downside targets.<\/p>\n<p>Key technical levels<\/p>\n<\/p>\n<ul>\n<li>\n<p>1.42928: Monday\u2019s high and the 61.8% retracement. The ceiling buyers need to break.<\/p>\n<\/li>\n<li>\n<p>1.42426: The 100-hour moving average. The near-term barometer for buyers and sellers.<\/p>\n<\/li>\n<li>\n<p>1.42146: The rising 200-hour moving average. Key support after holding the latest correction.<\/p>\n<\/li>\n<li>\n<p>1.4192: Friday\u2019s low.<\/p>\n<\/li>\n<li>\n<p>1.4150: The next downside swing area.<\/p>\n<\/li>\n<\/ul>\n<p>There is a good trading lesson in this price action. Sellers leaned against the retracement resistance. Buyers leaned against the 200-hour moving average. Both had a clear reference for defining and limiting risk: hold the level, and look for a rotation; break it, and reassess.<\/p>\n<p>Between those extremes, the 100-hour moving average is the barometer. Stay above it, and the buyers retain the near-term advantage. Move below it, and the sellers get another shot at testing support.<\/p>\n<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The USDCAD has been on a steady climb since bottoming near 1.3759 on September 8. On Monday, that rally reached 1.42928, right near the 61.8% retracement level of the longer-term move down&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-439641","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=439641"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439641\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=439641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=439641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=439641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}