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USDCAD tumbles to MA and swing area support

The USDCAD has experienced a sharp decline and is currently testing a swing area between 1.3553 and 1.35638. The 200-bar moving average on the 4-hour chart is located within this range at 1.35594. The price dipped to 1.3550, just below the low of the swing area, but only saw a slight pause so far. Nevertheless, if the level holds, traders will eye the 50% midpoint of the range since the March high at 1.35808 as an upper resistance target. Get above that level and buyers can breathe a sigh of rel... Read More

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Content Topics

Usdcad

Tumbles

Swing

Area

Support

Forex

Posted: Apr 28 2023, 16:33

Author Name: forexlive

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