Today, the 100 hour MA provided early resistance in the Asian session, but then broke above. Sellers turned to buyers on break with momentum. The 200-hour MA (green line) was broken in the early European session and more buyers piled in. The momentum continued to and through the 50% midpoint of the move down from the June by at 1.3676, but found willing sellers against the low of a swing area between 1.36858 and 1.36923.
On the downside, a break back below the 200 MA at 1.3640 would weaken the near-term bullish bias, and a move back toward the 100 hour moving average at 1.36128
Key technical levels:
Resistance: 1.3647 (200-hour MA), 1.36763 (50%), 1.3685 – 1.3692 (swing area)
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad technical outlook testing the 200 hour ma after bounce from june lows 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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