USDCAD seller are making a play in No American trading after waffling up & down this week
globalreutersJuly 10, 20241 Mins read The USDCAD is trading to a new low in morning North American trading. In the process, the narrow 23 pip range over the first 2 1/2 days of the week (between 1.3623 and 1.3646). Sellers are making a play…finally.
The pair is looking to enter a swing area between 1.3596 and 1.3615. Within that swing area sits the key 200-day moving average at 1.3596. The price has not traded below its 200-day moving average since early April 2024.
If the sellers are to take more control, getting below that 200-day moving average is important.
In this video, I take a look at the price action and the technicals that are driving this currency pair. Remember you can also find other technical analyses by visiting https://www.forexlive.com/technical-analysis every day.
This article was written by Greg Michalowski at www.forexlive.com.
Related Articles
Fed: U.S. government fiscal sustainability tops the list of financial system risks
The Fed's twice yearly Financial Stability Report highlights: U.S. government fiscal sustainability...
Forexlive Americas FX news wrap 22 Nov: US PMI data better than Europe. USD moves higher.
Major indices close higher for the trading week by the Russell 2000Baker...
Major indices close higher for the trading week by the Russell 2000
The stock indices close week. For the day, the Dow and Russell...
USDCHF buyers take the price higher this week after basing at the 50% midpoint at 0.87989
The USD/CHF pair, after trading within a range of 0.8400 to 0.8550...
Leave a comment