| The battle is on in the USDCAD. Looking at the technical, the pair today stalled just above support at the 50% of the move up from the October 21 low to the October 2022 high. That level comes in at 1.3132. The low reached 1.3135 just above that level. On the topside, the high today stalled just ahead of the swing area at 1.31778. Just above that is the falling 100 hour MA. Getting and staying above each, would increase the bullish bias with the 200 hour MA - which has not been broken since the first day of June - would be eyed at 1.32139. So buyers and sellers are battling it out with support and resistance converging. At some point, there will be a break and hopeful run. Be aware. Be prepared. |
Founded in 2008, ForexLive has been the go to source for both professional and retail traders from around the globe. Our core belief is that all traders want relevant and succinct trading information, and we deliver it 24 hours a day.
Tags: Featured,newsletter
6 pings