The USDCAD slid into the nearby support zone and found buyers around the 1.3904 mark — the high of a swing area that runs 1.3892–1.3904. That zone is reinforced by the rising 100-hour moving average (≈1.39055), so it showed up as a natural place for support. After testing that area the pair has bounced and is trading around 1.3916 as short-term buyers have so far stalled the selling pressure.

The question for the new trading day is whether buyers can convert that defensive bounce into follow-through. If they can hold above the 1.3904/100-hour MA zone and push price higher with momentum, the path will be clear for a run at recent intraday highs (at 1.39388 and 1.39575). If sellers force the pair back below 1.3892, it would signal the breakout higher has failed and open the door for a deeper pullback toward lower moving averages and prior support levels.

Quick technical snapshot:

Near support: 1.3904 (swing high / 100-hour MA).
Downside pivot: 1.3892 (swing low) — a break below here is bearish in the short term.
Current price: ~1.3916 — buyers need follow-through above this to confirm momentum.