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Category: Forex News

USDCAD retests the high swing area between 1.36049 – 1.36269

By Published On: March 22, 20240.6 min readViews: 1660 Comments on USDCAD retests the high swing area between 1.36049 – 1.36269

USDCAD traded toward the high of the trading range

The USDCAD is extended to a new session high, and in the process is back testing the swing area between 1.36049 and 1.36269 (the red number circles and yellow area on the chart above). The 61.8% retracement of the move down from the November 2023 hi is also within that area at 1.3623.

Come to my page!

Overall, the USDCAD has been in a volatile up and down range with a modest upward bias (trendlines on the chart have the price within a upward sloping channel). Being about the cluster of moving averages is also a tilt to the upside for the pair. However, the price still needs to get above – and stay above – the high of the aforementioned swing area to increase the bullish bias.


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