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The USD/CAD consolidated at the resistance of the Moving Average and psychological levels

The USD/CAD consolidated at the resistance of the Moving Average and psychological levels

Information is not investment advice

Wednesday’s Canadian Ivey PMI release was worse than the forecast. On the H4 chart of USD/CAD, the price is consolidating at the 200-period Moving Average to test its resistance at the psychological level of 1.3200. A further rise would meet the resistance levels of 1.3233, 1.3287 and 1.3334 left during October price action. The bearish reversal would have support levels placed at 1.3118 and the strong one at 1.3050.  

USDCADH4 November 7.png

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