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USDCAD trades down and back up. Above the 100/200 hour MAs, but work to do.

USDCAD trades down and back up.  Above the 100/200 hour MAs, but work to do.
The USDCAD traded in a relatively narrow trading range this week with the price reaching the week's high on Tuesday. That move took the price above the 200-hour moving average of 50% retracement of the July trading range. However, momentum faded quickly and the price then rotated lower over the next 2 days to the Thursday low.The initial jobless claims data yesterday and strong dollar buying saw the USDCAD pair rebound back to the 200-hour moving average. The price backed off into the close and... Read More
Posted: Jul 21 2023, 15:22
Author Name: forexlive
Views: 102181

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