Daily Market Updates: USDCAD Technicals: The USDCAD pair pushes higher off of 100 day MA support. What next?

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USDCAD Technicals: The USDCAD pair pushes higher off of 100 day MA support. What next?

Reported · Written up by our desk · Major Pairs

The USDCAD formed a double top near 1.42984 last Wednesday before sellers took control. Over the next five trading days, the pair fell to a low of 1.4032,a decline of about 266 pips. That move took the price below its 100-day moving average near 1.4041 yesterday. However, sellers could not sustain the break, and the price rebounded. They had their shot below a key technical level. They missed. In the Asian and European sessions today, sellers tried again. The price dipped below the 100-day moving average, now near 1.4042, but only reached 1.4039 before bouncing back above

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ForexliveUSDCAD Technicals: The USDCAD pair pushes higher off of 100 day MA support. What next?

Forex

USDCAD Technicals: The USDCAD pair pushes higher off of 100 day MA support. What next?

More like this

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