USDCAD moves lower after testing ceiling area between 1.3945 and 1.3958 ...Middle East

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USDCAD moves lower after testing ceiling area between 1.3945 and 1.3958
source : forex live ( Middle East ) () 41
The USDCAD has backed backs off from ceiling area again. That area comes between 1.3945 and 1.3958. The subsequent move to the downside has the pair heading toward 200 and 100-hour MA support targets at 1.39054 and 1.3898 respectively (green and blue lines on the chart below). A move below that level would target the rising 100 bar moving average on the 4-hour chart at 1.38784. Last week the price fell below that moving average line on two separate occasions only to fail and bounce back to the upside.If the price were to get above the ceiling area, the 2022 high price comes in at 1.3977. Get above that and the price is trading at the highest level since 2020. USDCAD SummaryThe USDCAD is tr

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