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USDCAD spikes to 200 hour MA @ 1.21917. It will take a move above to increase bullish bias

The USDCAD spike higher, and in the process moved up to retest it at 200-hour moving average at 1.31917. Sellers leaned against that upper moving average level (green line in the chart below), and corrected the price modestly to the downside. If the buyers are to remain in control, getting back above both the 100 (blue line in the chart below), and the 200-hour moving average (green line).On a break above, the 38.2% retracement of the move down from the July high to the July low comes in at 1.32... Read More

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Content Topics

Usdcad

Spikes

Hour

21917

Will

Take

Move

Above

Increase

1 21917

Bullish

Forex

Posted: Jul 20 2023, 15:27

Author Name: forexlive

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