menu search

USDCAD stalls at the 200 day MA today. Now works back down toward 100 day MA.

USDCAD stalls at the 200 day MA today. Now works back down toward 100 day MA.
The USDCAD yesterday moved below its 100 day moving average and 50% midpoint of the move up from the July low at 1.3397 and 1.3393 respectively after stronger-than-expected CPI data out of Canada. However, sellers turned to buyers, after the failed break, and the price moved back higher yesterday and into today (see 4 hour chart below). That rally today stalled right at the 200 day moving average (green line in the chart below) and the broken 38.2% retracement of the same move higher from the Ju... Read More
Posted: Sep 20 2023, 14:12
Author Name: forexlive
Views: 091150

Search within

Pages Search Results: