The pair has also moved below the 61.8% retracement of the rally from the September 2024 low, which comes in at 1.39465, and is trading beneath a key swing area between 1.3922 and 1.3930. These breaks confirm a technical shift in favor of sellers.
What would give buyers renewed confidence?
Reclaim the 1.3930 swing area
Ultimately, push through the 200-day moving average at 1.39969
In short, this week’s break has snapped a multi-month consolidation range, and with key levels broken along the way, the sellers remain firmly in control.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad breaks key support sellers tighten grip 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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