The USDCAD experienced fluctuating movement today after extending its upward trajectory yesterday, surpassing a key swing area near 1.40791. Yesterday's high also tested and stalled at another significant swing area around 1.41049.
Today, following a brief and quickly rejected attempt to breach the higher ceiling, the price has largely traded sideways, oscillating between the short-term floor at 1.4079 and the ceiling at 1.41049.
These levels will serve as crucial indicators for short-term bullish or bearish sentiment. A sustained move above 1.41049 would prompt traders to target the November high of 1.41398. Conversely, a break below 1.4079 would shift focus to the swing area between 1.4060 and 1.40668, followed by the ascending 100-hour moving average near 1.4044
