USD/CAD Price Analysis: Smart money in play so keep eyes on 50-EMA, 1.3600 a key support – by Sagar_Dua24 USDCAD Technical Analysis SupportResistance Reversal ChartPatterns
On an hourly scale, the asset witnessed a steep fall after sensing exhaustion in the uptrend. The major was on a spree of making higher highs while the momentum oscillator, Relative Strength Index made a lower high, which indicates a loss in the upside momentum. And, the downside bias got strengthened after dropping below Tuesday’s low at 1.3640.
Also, the 200-EMA at 1.3564 is looking turn flat, which indicates a loss of momentum in the longer-term trend.
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