USDCAD retraced earlier declines however finds keen sellers close to its 200 hour MA.

The USD/CAD gapped decrease over the weekend following information that Scott Bessent can be named Treasury Secretary beneath Trump. Nonetheless, the preliminary decline lacked follow-through, and the pair resumed its upward momentum.

Key Ranges Examined

• The worth rebounded above the August 2024 excessive at 1.39458 and the 2022 excessive at 1.39785, signaling bullish intent.
• Momentum carried the pair to and briefly above the 200-hour shifting common (MA) at 1.4002 and the psychological 1.4000 degree, however these good points have been unsustainable, prompting a pullback.

Present Place

The pair has now retreated to a zone close to the 100-hour MA at 1.3969 and the 100-bar MA on the Four-hour chart at 1.39573. This locations the value again inside the vary outlined by the 2022 excessive (1.39785) and the August 2024 excessive (1.39458).

Purchaser and Vendor Stand-Off

• Sellers: Examined ranges under the August 2024 excessive at 1.39458 however failed to take care of management.
• Consumers: Tried to maintain momentum above the 2022 excessive at 1.39785, however good points have been restricted.

Either side have made their strikes, however neither has gained a decisive edge. Merchants ought to now look ahead to a break outdoors the 1.39458–1.39785 vary. A sustained transfer in both course may sign the subsequent momentum-driven shift.

This text was written by Emma Wang at www.ubaidahsan.com.



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