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USDCAD tests 50% midpoint of 5 month range. Finds support buyers.

USDCAD tests 50% midpoint of 5 month range. Finds support buyers.

The USDCAD moved to a new 6 week low today, and in the process moved briefly below the low from Monday at 1.3352 and the 50% midpoint of the 5 month trading range. That midpoint level comes in at 1.3352. The low on Monday was at 1.33563. The low today reached 1.3344. The current price is at 1.33557.

That keeps the sellers in play, but the failure may be a worry for sellers going forward. Sellers need to see the price move below that midpoint level and stay below. If successful, the ri... Read More

Posted: Jan 12 2023, 21:00
Author Name: forexlive
Views: 101844

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