USDCAD rotates lower toward MA support after testing the low of the upper swing area

Technical Analysis

The USDCAD moved up to test a topside target area and backed off. The correction lower has moved back toward the 100/200 bar MA on the 4-hour charts. That area will be a key target that would need to hold support, IF the buyers area to stay in control with hopes for a break to the upside.

WIl the buyers step in on the dip?

Articles You May Like

Eurozone negotiated wage growth seen accelerating in Q3
Learn with ETMarkets: How to trade in crude oil amid market volatility?
Australian Consumer Confidence, weekly survey, comes in at 86.8 (prior 86.7)
NZD/USD Price Analysis: Pair saw a volatile session, high near 20-day SMA then retreated
Gold price scales higher for the fourth straight day on rising geopolitical tensions

Leave a Reply

Your email address will not be published. Required fields are marked *