The momentum carried into yesterday, with the price dropping below the "Red Box" range—a range that defined trading from December through most of January. However, sellers failed to push the price below a key swing target between 1.4260 and 1.4270, prompting buyers to step in and drive the price back into the "Red Box," signaling a return to neutrality.
On the downside, getting below 1.4290 and then 1.4260 are the key progressive steps to increase the bearish bias.
On the top side, get above 1.43687 and we could see rotation back toward the 200 hour moving average about 1.4426 currently. There would probably be some pause near 1.4400..
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad settles after fireworks at the start of the week price back in familiar territory was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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