Nevertheless, the initial move higher on Friday on the tariffs, took the price above a swing level from Wednesday and Thursday at 1.3710, and also through the 38.2% of the move down from the May high at 1.37208, but momentum slowed and failed. Buyers had their shot and they missed.
Sellers leaned into resistance, and price rotated back down toward the 100-hour moving average (currently around 1.3682), which has been acting as a pivot point amid choppy, rangebound trading since Wednesday. The 200-hour MA is also rising and approaching the 1.3649-1.3651 support zone, a level where the pair found solid footing on Wednesday, Thursday, and Friday last week paren see red numbered circles on the chart above).
The failure to sustain the tariff-inspired breakout suggests hesitation among traders, likely due to exemptions under USMCA. Until the pair can clearly break above 1.3710 and 38.2% retracement at 1.37208, or below 1.3649 (short-term 4 from last week and 200 hour moving average), expect continued two-way trading, with the moving averages acting as key technical guides.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdcad stuck in a range after tariff driven spike fizzles 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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