USD/CAD Price Analysis: Manages to defend 100 DMA support, bullish potential intact USDCAD Fed Recession Technical Analysis Currencies
rently placed around the 1.3530 region, down less than 0.20% for the day, and so far, has managed to hold its neck above the 100-day Simple Moving Average .
From a technical perspective, last week's sustained breakout through a downward sloping trend-channel was seen as a fresh trigger for bullish traders. A subsequent move and acceptance above the 100-day SMA adds credence to the constructive setup and supports prospects for a further appreciating move for the USD/CAD pair.
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