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USDCAD dips back below the 100/200 hour MAs

The USDCAD moved above the 100/200 hour MAs after the BOC said that they would raise rates by 25 basis points but would pause policy for a period of time. The gains fell short of the next topside swing area between 1.3436 and 1.3444. The inability to move above that level, and the subsequent rotation back below the 200 and 100 hour moving averages, has turned buyers into sellers. The bias is now more in favor of the sellers.

On the downside, the 1.3344 to 1.3358 area is the next downsi... Read More

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Usdcad

Dips

Back

Below

100

200 Hour

100 200

Forex

Posted: Jan 25 2023, 19:23

Author Name: forexlive

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