Skip to main content

USD/CAD rebound tests 200 day moving average again

As noted here in a number of updates, the USD/CAD fell to below 1.34 following the hotter than forecast Canadian inflation data. The price action was covered here at the time as was the rebound that saw the US dollar rebound back above 1.34, from a session low as 1.3377. That rebound then extended further into and after the 4pm London fix. However, as expected the USD/CAD could not reclaim the 200 moving average level ahead of the US close. That was in place at 1.3464 and the USD/CAD stalled ahead of 1.3450 and closed at 1.3448. The USD/CAD has managed to test that 200 day moving average today though (now at 1.3463) and the high seen so far has been set at 1.3465. It has just backed off from there now. The low seen today has been set at 1.3441 and it is just now trading at 1.3456
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!