USDCAD breaks beneath the 100 hour MA. Can the momentum decrease proceed?

USDCAD has been oscillating between the 100-hour and 200-hour transferring averages since breaking above them throughout the European session yesterday. The pair discovered help on the 100-hour MA in early U.S. buying and selling however confronted promoting stress on the 200-hour MA (at the moment 1.42176) each yesterday and in at the moment’s Asian session. The repeated failure to breach this stage prompted sellers to regain management, pushing the value decrease.

Within the North American session, USDCAD broke beneath the 100-hour MA (now 1.41947), reinforcing draw back momentum. A swing space between 1.4194 and 1.4208 now acts as rapid resistance—staying beneath retains sellers in management, whereas a transfer again above might sign a failed breakdown.

Key Technical Ranges:

• Resistance: 1.4194 – 1.4208 (swing space), 1.42176 (200-hour MA)
• Assist: 1.4150 (February low), 1.41194 (rising 100-day MA)

A break beneath 1.4150 would open the door for a take a look at of the 100-day MA at 1.41194, a stage USDCAD has not traded beneath since October eight.

This text was written by Emma Wang at www.ubaidahsan.com.



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