• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

USDCAD and USDCNH: USDCAD is trying to start a recovery

by July 16, 2024
written by July 16, 2024

USDCAD and USDCNH: USDCAD is trying to start a recovery

During this morning’s Asian trading session, USDCAD jumped to a new weekly high at 1.36948.
In the previous hour, USDCNH rose to 7.28638 level. 

USDCAD chart analysis

During this morning’s Asian trading session, USDCAD jumped to a new weekly high at 1.36948. After that, the bullish momentum declined, and the pair retreated to the 1.36750 level. We are still under pressure to slide a little lower to find a better support level. Potential lower targets are the 1.36600 and 1.36500 levels. Additional support is the EMA 50 moving average at 1.36600, while the EMA 200 is at 1.36500.

For a bullish option, USDCAD would have to stabilize again above the 1.36800 level. If he succeeds in that, he will have a new opportunity to start a recovery and test this morning’s high. A new test could produce an impulse above and form a new weekly high. Potential higher targets are 1.37000 and 1.37100 levels.

 

USDCNH chart analysis

In the previous hour, USDCNH rose to 7.28638 level. There, we tested this week’s high, which was formed on Monday in the Asian session. Additionally, pressure on that zone creates the EMA 200 moving average. This is a new chance to see a break above the EMA 200 and make a more concrete bullish recovery. Potential higher targets are 7.29000 and 7.29500 levels.

On the other hand, a bearish scenario for USDCNH is also a possibility. A new bearish consolidation initiation and a drop below the 7.28000 level could confirm the bearish pressure on the pair. In this case, USDCNH will have to look for new support at lower levels, with potential lower targets at 7.27000 and 7.26000 levels. Additional support at 7.27000 is at the EMA 50 moving average, signaling a need for caution.

 

The post USDCAD and USDCNH: USDCAD is trying to start a recovery appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Breaking News: Trump Almost Shot at Pennsylvania Rally
next post
The Dow Jones Forecast: Strong Gains in The Stock Market

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • UN nuclear chief says Iran has material to build bombs, but no plan to do so

    June 20, 2025
  • Kash Patel torches ‘conspiracy theories’ about Bondi feud amid MAGA furor over Epstein files

    July 13, 2025
  • Trump admin secures release of American missionary held in Tunisia for 13 months: report

    April 13, 2025
  • GREGG JARRETT: Biden, the ‘marionette president’ and the case of the runaway autopen

    June 5, 2025
  • Judge tosses defamation suit against Fox News by head of dismantled disinformation board

    July 23, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,575)
  • Investing (634)
  • Stock (945)

Latest Posts

  • Why this brokerage downgraded UnitedHealth’s rating to ‘hold’

    May 19, 2025
  • FLASHBACK: Biden shrugs off Hur report when pressed by Peter Doocy: ‘I know what the hell I’m doing’

    May 17, 2025
  • Trump brings back Diet Coke button to White House Oval Office

    January 21, 2025

Recent Posts

  • USAID workers send message to Trump on boxes while leaving office for last time

    February 22, 2025
  • Judge who blocked key Trump executive order has long history of left-wing activism, Dem donations

    March 19, 2025
  • RFK Jr shocked over pregnant moms protesting Trump with Tylenol: ‘Pathological’

    October 9, 2025

Editor’s Pick

  • Kamala Harris underperformed Biden’s numbers with women. South Dakota’s governor thinks she knows why

    November 7, 2024
  • Trump’s hostage envoy Boehler met with Taliban in Kabul in first in-person meeting since takeover

    March 21, 2025
  • What we know about the Trump administration’s plans for a sovereign wealth fund

    February 4, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock