- Analytics
- Market analysis
- Technical Analysis
- USD/CAD is testing MA 200 H1 support
USD/CAD is testing MA 200 H1 support
Yesterday the USD/CAD traded down and closed the day in the red zone near the price of C$1.2560. Today it also fell a little, dropping to C$1.2545. On the hourly chart, USD/CAD is testing the strength of the support - the line of the moving average MA (200) H1 (С$1.2560). On the four-hour chart, the USD/CAD remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the north direction in trading, and as long as the USD/CAD remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.
Resistances levels are at: С$1.2675, С$1.2700, С$1.2800
Support levels are at: С$1.2540, С$1.2480, С$1.2450
Probably, the main scenario is continued growth towards C$1.2675 (Apr 13 high).
An alternative scenario is a consolidation below the MA 200 H1 line, followed by a fall to C$1.2405 (Apr 5 low).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
