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USDCAD traders define the short term trading range

USDCAD traders define the short term trading range

Canada also released jobs data today. It was a better than expectations, but the SVB news defined the price action. That sent the flight into the safety of the USD.

The USDCAD moved lower, but the low on the hourly chart above, stalled at the trend line connecting the low from Wednesday and Thursday. It also stalled ahead of the rising 100 hour MA (at 1.37497 currently).

The subsequent price high has likewise stalled within a technical level. A swing area between 1.3807 to 1.381... Read More

Posted: Mar 10 2023, 18:20
Author Name: forexlive
Views: 082155

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