USDCAD strikes as much as retest the 100 hour MA and damaged 38.2% retracement

The USDCAD is climbing larger at first of the brand new buying and selling week, supported by the USD’s upward momentum. The pair is approaching two vital technical ranges: the 100-bar transferring common (MA) on the Four-hour chart and the damaged 38.2% retracement of November’s buying and selling vary.

These ranges had been breached on Friday, however the transfer lacked momentum, resulting in a pullback towards 1.3878, a key degree equivalent to the 2022 excessive. Notably, on Friday, the worth examined this help twice and rebounded, reinforcing its significance.

• Help: 1.3878 (2022 excessive).
• Resistance: 1.40417 (damaged 38.2% retracement of November 2024 vary).

Merchants shall be expecting momentum round these ranges to find out the following directional transfer.

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



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