USDCAD moves higher but runs into moving average resistance targets ...Middle East

The USDCAD extended higher today helped by the US CPI, but the price action reached out for its 100 bar moving average on the 4-hour chart at 1.35199, and its 100-day moving average at 1.3537. Also in that area is the 50% midpoint of the move down from the November high level comes in at 1.35378. That cluster of resistance has been able to hold on the first test. Going forward, it would take a move above that area to tilt the bias more to the upside.Conversely, on the downside, a move back below its 200-bar moving average on the four-hour chart at 1.34935 and the 200-day moving average at 1.34787 would have the sellers more in control. This article was written by Greg Michal

Hence then, the article about usdcad moves higher but runs into moving average resistance targets was published today ( Tuesday 12/03/2024 - 05:45 PM ) 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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Last updated : 12 March 2024 clock 05:45 PM

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