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The USDCAD skims along support while resistance pushes from above. A break looms.
The USDCAD currency pair is currently engaged in a dynamic tug-of-war between buyers and sellers. A technical analysis reveals that today's activities have hovered precariously above the a key support level, determined by 50% of the upward swing from the low of October 2021 to the high of October 2022. That midpoint is situated at 1.3132. The lowest point today touched 1.3135, just a tad above this benchmark, prompting buyer intervention that led to a subsequent price increase.On the upper end,...
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Posted: Jun 26 2023, 15:21
Author Name: forexlive
Views: 081073