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USDCAD falls to new lows and away from 100/200 hour MAs

The USDCAD has witnessed a significant shift as it moved below the 100-hour moving average (MA) and a nearby swing area around 1.35839 (indicated by red numbered circles and the blue moving average line). The price has plunged to a low of 1.3363, with the focus now on the MA level. Sustained trading below this level would lean toward a more bearish sentiment.On the downside, the price has entered a swing area (highlighted by green numbered circles) between 1.3553 and 1.3566. A break below this a... Read More

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Posted: May 4 2023, 16:22

Author Name: forexlive

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