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USDCAD fails to climb above 1.3740 Momentum oscillators show contradicting signs USDCAD has been rebounding off the medium-term ascending trend line over the last couple of weeks, remaining in a positive territory. However, the pair is also finding strong resistance around the 1.3740 barricade with the short-term simple moving averages (SMAs) suggesting a potential bearish […]

The post USDCAD Meets Uptrend Line Again and Again appeared first on Action Forex.

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19/07/2024

AUD/USD: On Track for Biggest Weekly Drop Since Mid-April

Australian dollar continues to trend lower vs its US counterpart for the fifth consecutive day, on track for the biggest weekly loss since the second week of April. Bears have so far retraced 50% of 0.6575/0.6798 upleg and look for daily close below daily Kijun-sen (0.6691), to reinforce bearish signal. Daily studies are weakening (fading […]
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