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The USDCAD has moved down to check the low of the swing space between 1.2649 and 1.2656. The low value simply attain 1.26475 however has since bounced again as much as 1.2663. The 100 day shifting common of 1.26377 can be in play as is the failed swing low from February 10 at 1.26344.
So though the value went to the ledge of the “Crimson Field” and caught a foot over that ledge, merchants didn’t lose their stability and go over the ledge with a momentum break beneath 1.2649 adopted by the 100 day shifting common of 1.26377 and the February 10 low.
Because of this, the established order stays, and the dip consumers have to this point lived with the hope for a run again to the upside. Watch the swing low from final Wednesday at 1.26806 for additional affirmation that the consumers are “successful” no less than within the quick time period.
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