Technical Analysis

USDCAD seems to be to retest the 38.2% retracement. First of subsequent key targets.

100 day MA and 200 hour MA/50% the opposite targets on extra draw back momentum

The USDCAD has retested the 38.2% of the transfer up from the February 1 low. That is available in at 1.32289. Swing lows from Feb 7 at 1.3228 and Feb eight at 1.32316 are additionally within the space. The low at present reached 1.32326. 

 

100 day MA and 200 hour MA/50% the other targets on more downside momentum

Is that every one for the correction decrease, OR does the worth break and head to the 100 day MA at 1.32153, after which the 200 hour MA and 50% retracement at 1.3298-1.3300 space?  

Truthfully, it’s a coin flip however given the prior assessments on the space, it’s not all that shocking to see some revenue taking in opposition to the help space at present.  Merchants can simply purchase in opposition to help with stops on a break. 

ForexLive


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