The pair last week re-tested and 38.2% retracement of the move up from the February low at 1.4319. The price did move above that level on Thurday, but quickly reversed lower. That adds another technical ceiling to monitor. Unless buyers can push above these moving averages with conviction (and broken 38.2% retracement), upside potential is limited/the sellers are more in control.
Key Technical Levels:
100-hour MA: 1.43276
38.2% Fib (of March rally): 1.43916
61.8% at 1.42993
100-day MA: ~1.42486
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad pressured below 200 hour moving average as sellers eye key support at 1 4270 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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