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The USDCAD stretches to the upside , but backs off. What next?

The USDCAD stretches to the upside , but backs off. What next?

The USDCAD has moved outside of the up and down "red box" that confined lows and highs over the last three trading weeks today, but has more recently moved back to retest the area. Key support.

Looking at the 4-hour chart above, the pair moved lower earlier this week, bottoming ahead of the lows from the end of January. The area between 1.3262 and 1.3272 is the low of what has been a up and down swing area for the USDCAD (the "red box" in the chart above).

The rally over the las... Read More

Posted: Feb 17 2023, 15:33
Author Name: forexlive
Views: 082269

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