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USDCAD can't extend above swing area resistance, and backtracks lower to 100/200 hour MAs

USDCAD can't extend above swing area resistance, and backtracks lower to 100/200 hour MAs
The USDCAD moved up to test a swing area between 1.3271 and 1.3285 on Wednesday, and again yesterday on 2 separate tests. The high price yesterday stalled right against the high of that swing area at 1.3285. It couldn't get through and make a run at the 38.2% retracement above at 1.33222. In trading today, the price tried once again to push the upside, but once again found willing sellers near the 1.32853 level. The last few hours have seen the price rotate to the downside helped by the weaker-t... Read More
Posted: Jun 30 2023, 16:01
Author Name: forexlive
Views: 102176

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