The USDCAD stretched higher and in doing so, reached the 100/200 hour MA target at 1.4385 to 1.43918. Sellers leaned at the risk-defining level on the first test, and the price has backed off.
If the buyers are to take more control, getting and staying above those MAs is needed to give the buyers more control.
If not, a rotation below the 1.4348 level is need to give the sellers some additional comfort and give the buyers more cause for pause.
This article was written by Greg Michalowski at www.forexlive.com.
Related Articles
Forexlive Americas FX news wrap 22 Jan.. The USD rises with higher yields. Stocks higher.
S&P cannot close at a new high. New intraday high reached.What economic...
Oil – private survey of inventory shows a headline crude oil build vs. draw expected
Via social media reports: --Expectations I had seen centred on:Headline crude -1.2...
S&P cannot close at a new high. New intraday high reached.
The major US stock indices closed higher on the day. The broader...
Economic calendar in Asia Thursday, January 23, 2025 – Japan trade data
A bit of a lower tier data day today. Japanese trade data...
Leave a comment