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USDCAD sniffs the rising 100 hour MA and bounces on the first test

USDCAD sniffs the rising 100 hour MA and bounces on the first test

The USDCAD moved to a new session low and in the process, sniffed the rising 100 hour MA at 1.33759. The low price got with 7 pips of the MA level at 1.3382 and bounced. The price is trading at 1.33972.

The price of the USDCAD moved sharply higher on Friday and Monday, helped by tumbling oil prices. Yesterday oil fell to a low near the end of 2021 level at $75.30 and found dip buyers.

The catalyst were reports that the Saudi' and OPEC were mulling a production code a 500K at the... Read More

Posted: Nov 22 2022, 16:05
Author Name: forexlive
Views: 110758

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