The USDCAD popped higher earlier after Pres. Trump announced he was terminating trade talks with Canada, blaming Ontario ads that painted former Pres. Reagan as anti-tariff. The headline lit a quick rally, but sellers leaned against the 200-hour MA, halting the move.
The pair briefly broke above that level before fading on softer U.S. CPI data, though the pullback was shallow. Since then, the market’s gone quiet, with price now consolidating between the 100- and 200-hour MAs — roughly 1.4013–1.4026.
Traders are waiting for a breakout:
Upside bias: Above 1.4026 opens 1.4060–1.4067, then 1.4079 (Oct 1 high).
Downside risk: Below the 100-hour MA and through 1.4000–1.4004 targets the weekly low at 1.3972.
The video above outlines the price action along with the bias/risk/target defining levels
