USD/CAD Bounces Off 200-Hour MA as Former Support Turns Resistance

USD/CAD is trading with a modest bullish bias heading into the close after finding support at the 200-hour moving average, preventing further downside extension. The pair rallied earlier in the session toward a former support zone between 1.41297 and 1.41488, which has now flipped to resistance. During early Asian-Pacific trading, USD/CAD reached 1.4128, just below the lower boundary of this swing area, where sellers emerged and drove the price lower. The subsequent pullback found buying interest at the 100-hour moving average, which acted as a floor and triggered a modest rebound. The price action suggests a market caught between competing technical levels, with the 200-hour MA providing downside support and the 1.41297–1.41488 zone capping upside attempts. Traders should monitor whether bulls can sustain momentum above the 200-hour MA and eventually reclaim the resistance zone, or if renewed selling pressure pushes the pair below this key moving average, which could open the door to further losses.