USDCAD has followed USD lower and in doing so is now extending into a key support group defined by:
- A swing zone between 1.3654 and 1.3668
- 204 moving average on the four-hour chart at 1.3665
- 50% of midpoint of April trading range at 1.36612
This cluster between 1.36541 and 1.3668 is the key to the short-term barometer. Staying above is more bullish, going below would increase the bearish bias. This fight will soon be resolved.
Do you like to buy in USDCAD? It’s the plunge.
Do you like to sell in USDCAD? Move below 1.3654 to increase bearish bias.
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