USD/CAD tests 100-hour MA at 1.3668 after sharp rebound from 1.3591

USD/CAD surged from support at 1.3591 to test resistance at 1.3665, gaining approximately 0.5% (74 pips) in the session. The pair broke above the critical 61.8% Fibonacci retracement level and the key swing zone between 1.3634-1.3650, shifting momentum to favor buyers. The rebound now faces a crucial test at the convergence of the 100-hour moving average (1.3660) and the 50% retracement of June's decline (1.3668). A sustained break above this resistance zone could open the path toward 1.3700 and potentially 1.3750. However, failure to clear this level may result in a pullback to retest the 1.3634-1.3650 support area. The technical setup suggests traders are positioning for potential continuation higher, with the bias turning bullish as long as the pair holds above the 61.8% retracement level.