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New highs for the USDCAD. Trades between 100/200 hour MAs

New highs for the USDCAD.  Trades between 100/200 hour MAs

The USDCAD is trading to a new session high.

Recall from last Wednesday, the BOC increased rates by 25 basis points and announced they have a conditional pause in rates, The USDCAD moved up to a new high for the week at 1.34276.That high fell short of the upside swing area between 1.3434 and 1.3445. The price rotated back to the downside.

On Thursday, the high for that day, stalled near the 200 hour MA (near 1.3405) and the sellers took over. The lows from Thursday and Friday,... Read More

Posted: Jan 30 2023, 19:36
Author Name: forexlive
Views: 101841

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