USDCAD retraces the declines from yesterday

The USDCAD USD/CAD The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh Read this Term has moved back above the 200 and 100 hour MA (joining the party seen in other currency pairs) and has now moved up to test the swing area between 1.2846 to 1.2957 (see red numbered circles). Getting above that area would open the door to the next swing areas including the high from April 28 at 1.2878 and then the highs from Tuesday and Monday at 1.2893 and 1.2913.

Risk is now the 100 hour MA at 1.2826. Move below it, and there may be some disappointment. The 200 hour MA at 1.28067 is the next target below that level. Move below both and all bets are off to the upside (again).

PS helping the bias today is the low from earlier today stalled near the low from Friday at 1.2718. The inability to move more below that target level gave buyers something to lean against (from the buy side). The rest of the story is found in the yields moving higher and the stocks moving lower. That has the USD the strongest of the major currencies Currencies Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services. These are often issued by a specific government or collection of governments, by way of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the popu Currencies are a typically a form of money in wide circulation, being the primary medium of exchange with respect to buying and selling goods and services. These are often issued by a specific government or collection of governments, by way of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as a backbone of the country’s or countries’ economy, due to the perception of value held by the popu Read this Term which is helping the USDCAD.as well.