USDCAD retraced earlier declines but finds willing sellers near its 200 hour MA. ...Middle East

The USD/CAD gapped lower over the weekend following news that Scott Bessent would be named Treasury Secretary under Trump. However, the initial decline lacked follow-through, and the pair resumed its upward momentum.Key Levels TestedThe price rebounded above the August 2024 high at 1.39458 and the 2022 high at 1.39785, signaling bullish intent.Momentum carried the pair to and briefly above the 200-hour moving average (MA) at 1.4002 and the psychological 1.4000 level, but these gains were unsustainable, prompting a pullback.Current PositionThe pair has now retreated to a zone near the 100-hour MA at 1.3969 and the 100-bar MA on the 4-hour chart at 1.39573. This places the price back within th

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USDCAD retraced earlier declines but finds willing sellers near its 200 hour MA. ...Middle East

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