After trading above and below the 100-hour moving average (blue line currently at 1.39582), the price today has now fallen back below both that 100-hour and also the 200-hour moving averages (now at 1.39347), tilting the near-term bias more bearish.
A break below that zone would open the door to further downside, with the next technical support seen near the 1.3860 region.
Resistance: 1.39347 (200-hour MA), 1.39582 (100-hour MA), 1.40097–1.40268 (swing area and the 200-day MA and daily resistance)
Sellers are more in control while price holds below the key hourly moving averages. A move back above the 100-hour MA would be needed to ease the downward pressure.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad slips below key moving averages as bearish momentum builds 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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