USD/CAD Tests 200-Hour MA Support at 1.4079 as Bearish Pressure Builds

USD/CAD has declined to a new session low of 1.4079, now testing the critical 200-hour moving average at 1.40792—a level that has served as a key technical pivot over recent sessions. The pair is under sustained selling pressure as bears attempt to break below this widely-watched support zone. Notably, last Friday saw buyers defend this same moving average level, resulting in a bounce that temporarily halted the downtrend. A decisive break below the 200-hour MA could open the door for accelerated losses, potentially targeting the 1.4050 and 1.4020 support zones. Conversely, if history repeats and buyers step in again at this level, a rebound toward the 1.4100–1.4120 resistance area could materialize. Traders should watch for a confirmed close below the moving average on the hourly chart for bearish continuation signals. The price action comes ahead of this week's Federal Reserve decision, which could inject significant volatility into USD pairs. Near-term momentum favors sellers, but the established support level warrants caution before committing to directional trades.