The momentum carried into yesterday, with the price dropping below the "Red Box" range—a range that defined trading from December through most of January. However, sellers failed to push the price below a key swing target between 1.4260 and 1.4270, prompting buyers to step in and drive the price back into the "Red Box," signaling a return to neutrality.
On the downside, getting below 1.4290 and then 1.4260 are the key progressive steps to increase the bearish bias.
On the top side, get above 1.43687 and we could see rotation back toward the 200 hour moving average about 1.4426 currently. There would probably be some pause near 1.4400..
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( USDCAD settles after fireworks at the start of the week. Price back in familiar territory. )
Also on site :