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USDCAD stalls near prior highs and 61.8% retracement level
The pair pushed to 1.4293 on Friday before meeting resistance after earlier dips tied to the PCE and US jobs data were quickly rejected.
USDCAD stalled its advance as it approached the April 2025 high and a 61.8% retracement of the January 2025 range, according to Forexlive.
The pair had been trending higher since bottoming in early September near 1.3750, with buyers repeatedly defending the rising 100-hour moving average during the run.
Forexlive said there were only two hourly dips below that moving average during the stretch, including one on Wednesday after a slightly weaker PCE report and another on Friday following a weaker-than-expected US jobs report, and both attempts were quickly rejected.
After extending to new yearly highs on Thursday and Friday, USDCAD continued higher to 1.4293 on Friday, but buyers encountered the resistance target and sellers stepped in, the outlet added.