After finding strong support late last week near the 100-day moving average at 1.4269 after breaking below and failing —it is also a key swing area dating back to December—the pair rebounded sharply. That bounce held through the weekend, and yesterday's rise and today's up and down consolidation, has seen price climb above - and stay above - both the 200-bar and 100-bar moving averages on the 4-hour chart. That level is now acting as support at 1.4318 and 1.4344 respectively.
On the downside, it would take a move below he 100 bar MA on the 4-hour chart at 1.4247 to tilt the bias back to the downside.
Support: 1.43474 (100-bar MA H4), 1.4321 (200-bar MA H4), 1.4269 (100-day MA/swing zone), 1.4238 swing level
A failure back below 1.4347 would weaken the short-term bullish case, but for now, the momentum favors further upside as long as price holds above the 100 bar MA on the 4-hour chart.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad extends bounce as technicals and tariffs support bullish case 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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