The upside move has met resistance at the 200-bar moving average on the 4-hour chart at 1.4333, where sellers have so far stalled momentum. A break above this level would open the door toward the next upside targets:
50% retracement level at 1.4345200-hour moving average at 1.4374100-bar moving average on the 4-hour chart at 1.4376Key Technical Levels:
Resistance: 1.4333 (200-bar MA on 4H), 1.4345 (50% retracement), 1.4374 (200-hour MA), 1.4376 (100-bar MA on 4H)Support: 1.4268 (Lower range support)The video above, explains the technicals in play and also explains why they are so important.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about the usdcad is moving higher after bouncing off familiar support yesterday 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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