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USDCAD snaps back higher and in the process is retesting 100/200 bar MA on 4-hour chart

The USDCAD made new lows for the week earlier today and in the process tested a swing area between 1.3401 and 1.34214. The low price reached 1.34154 bouncing higher. The last 4 or so hours have seen a sharp move back to the upside helped by declining oil prices.The move higher has taken the price of the USDCAD above its 100-bar moving average (blue line on the chart below) on the 4-hour chart at 1.35195, and toward the 200-bar moving average on the 4-hour chart at 1.35413 (green line on the char... Read More

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Usdcad

Snaps

Back

Higher

Process

Retesting

100

200 Hour

100 200

4 hour

Forex

Posted: Sep 29 2023, 15:57

Author Name: forexlive

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