Technical Analysis

USDCAD runs from the 200 hour MA

Below 50% of the run higher as well

The USDCAD has made a run below the 200 hour MA and 50% retracement at 1.3427-28 area.  That makest that area resistance now. Stay below is keeps the tilt more to the downside. 

On the topside the 100 hour MA was tested in the NY session and the price rise stalled (see blue line).  On the downside, the 1.3395-1.3405 are now targets. That area includes the swing levels going back to April 11, 15, 17 and 23rd (see red circles) and the 61.8% of the last leg higher at 1.34053.  


Articles You May Like

Oil Prices to Stay Afloat for as OPEC Emphasizes December Meeting
Sterling Price Outlook: British Pound Breakout Throttles Higher
US Dollar Outlook on SGD, INR and IDR Amid Trade Talks, China GDP
US Dollar Price Outlook: USD Plummets into Multi-Year Trend Support
Free, Easy, Super Scalper Indicator for Forex, Index trading & Crypto currencies. Download it today!

Leave a Reply

Your email address will not be published. Required fields are marked *