The 200-day moving average, currently near 1.40111
Today’s high stopped at 1.40157 before rotating back lower
On the downside, the initial support now comes in near 1.3978, where the 200-bar moving average on the 4-hour chart lines up with the old swing high from April 15. Holding above that level keeps the rebound and short term bullish bias intact. A move below it, however, could trigger a deeper correction down to 1.389172 1.3904 swing area.
Resistance: 1.4009–1.4027 (200-day MA + swing), 1.40525 (38.2% retracement), 1.4146 to 1.41836 (50% and swing area)
Bias: Neutral to bullish above 1.3978; stronger bullish bias only above 1.4027 and then the 38.2% retracement at 1.40525
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad retests the 200 day ma swing area and finds willing sellers 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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