USDCAD reaches the next downside target

Technical Analysis

Author: Greg Michalowski | usdcad

Sellers remain in control

After re-breaking the 100 day moving average at 1.32238, the USDCAD selling has continued down to the next key target area at the 200 bar moving average on the 4 hour chart at the 1.31997 level.  Also at the level is a natural 1.3200 level.

Sellers remain in control_
Do buyers come in and stalls the fall or do we get continued selling with the 50% retracement at 1.31842 as the next target (see yellow area in the chart above)?


ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose