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USDCAD Technical Analysis - Bearish Trend Returns

On the daily chart below for USDCAD, we can see that the bearish trend remains intact, and the moving averages are acting as resistance for the sellers. The latest pullback is finding resistance at the previous swing low level at 1.3405 and the blue short period moving average. This pullback started as the US Retail Sales report missed expectations across the board and kicked a move higher in the USD as it’s the preferred currency in times of recessions. The momentum was boosted further by hawki... Read More

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Content Topics

Usdcad

Technical

Analysis

Bearish

Trend

Returns

Forex

Posted: Apr 18 2023, 09:36

Author Name: forexlive

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