Thu, Feb 09, 2023 @ 11:53 GMT

USD/CAD Undecided

USD/CAD moves sideways on the short term and looks determined to challenge the median line (ml) of the blue ascending pitchfork again. Now is pressuring the 1.2460 level and only a rejection will signal another upside momentum. Price remains steady even if the USDX plunged today and reached new lows. The perspective is still bullish as long as is trading above the mentioned support levels, but a valid breakdown will confirm a larger drop.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

Featured Analysis

Learn Forex Trading