The pair also dropped below the 38.2% retracement of the decline from the mid-May high, further weakening the technical picture. Selling pressure deepened as the price fell under the 200-hour moving average (green line) and a swing area near 1.3707 (green numbered circles), which had previously been a strong ceiling for price rallies. After a brief consolidation, momentum picked up again, extending the decline.
Key levels:
Support: 1.3633–1.3650 (current swing area being tested), 1.3600 (natural support), 1.3539 (low for the year.)
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad tumbles as sellers seize control below key technical levels 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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