Technical Analysis

USDCAD catches a bid after earlier stall close to 100 day MA provides patrons a push

Crude oil falls

The value of crude oil has caught a bid.  A pair issues are serving to.

The value held above the 100 day MA on the day’s lows. That is available in at 1.31948. The low for the day reached 1.32027.  Shut however no cigarThe worth of oil is down -2.68%. That tends to weaken the CAD.  

A 3rd push was the transfer again above the Jan 15 and Jan 18 swing lows at 1.3225 degree.  The value tried to stall close to that degree, however then sellers gave up and turned to patrons. 

Crude oil falls

The value is presently testing the 38.2% at 1.32683 (the worth simply reached 1.3270).  That’s the subsequent goal to get too and thru for the pair. 

UPDATE: The 38.2% is being damaged with the subsequent goal on the 50% at 1.32886.

ForexLive


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