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USDCAD reaches cluster of moving average support

In an earlier post, I commented how the USDCAD fell below a key swing area (old floor) between 1.3517 and 1.35266, and the 100-day moving average. I commented:Technically if the price can stay below the 100-day moving average, that is the best-case scenario for the downside potential. Alternatively staying below 1.35266 (high of the old floor from April 21 through May 5), would keep the sellers in play.The price did extend briefly above the 100-day moving average, but could not enter the swing a... Read More

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Content Topics

Usdcad

Reaches

Cluster

Moving

Average

Support

Forex

Posted: May 15 2023, 18:57

Author Name: forexlive

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