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

USDCAD and USDCNH: USDCAD is falling below last week’s low

by August 20, 2024
written by August 20, 2024

USDCAD and USDCNH: USDCAD is falling below last week’s low

This week, USDCAD continued to retreat to new lower levels
During this morning’s Asian session, USDCNH fell to a new weekly low at 7.12000 level

USDCAD chart analysis

This week, USDCAD continued to retreat to new lower levels. During this morning’s Asian session, the pair made a breakthrough below the 1.36200 level. This led to the formation of a new weekly low at 1.36050. Now, we see a bullish impulse stopping this pullback and trying to break away from the bearish embrace. We are currently at 1.36280 and trying to get back above 1.36400 above the daily open price.

If we manage to get back above, the chances of us starting a bullish recovery increase. Potential higher targets are 1.36600 and 1.36800 levels. We need a negative consolidation and a return to the previous low for a bearish option. A new visit to that level will strengthen the bearish momentum zsa continuation to the bearish side. Potential lower targets are 1.36000 and 1.35800 levels.

 

USDCNH chart analysis

During this morning’s Asian session, USDCNH fell to a new weekly low at 7.12000 level. Soon after, the pair recovered to the 7.14500 level. There, it met the EMA 50 moving average, which stopped further recovery. Below, we have seen consolidation, and now we are close to testing the EMA 50 again. This time, a break above could form a new weekly high.

Potential higher targets are 7.15000 and 7.15500 levels. The EMA 200 moving average is in the weekly open price zone of 7.16200. For a bearish option, USDCNH would have to pull back below the 7.13000 level. With that step, we descend below the support zone and the chance to continue pulling to the bearish side increases. Potential lower targets are 7.12500 and 7.12000 levels.

 

The post USDCAD and USDCNH: USDCAD is falling below last week’s low appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
S&P 500 and Nasdaq continue to recover to new highs
next post
Warren Buffett: Strategic Moves Amid Market Shifts

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

Kraken Rolls Out Commission-Free Stock Trading

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

  • ‘Mass surveillance’: Conservatives sound alarm over Trump admin’s REAL ID rollout

    April 17, 2025
  • US champions Lebanon’s response to Hezbollah disarmament, hints at Abraham Accords opportunity

    July 7, 2025
  • FLASHBACK: Biden shrugs off Hur report when pressed by Peter Doocy: ‘I know what the hell I’m doing’

    May 17, 2025
  • Lithuanian defense minister: Only way to negotiate with Russia is with a ‘gun on the table’

    March 10, 2025
  • Consumers choose their favorite retailers ahead of the holidays: Nike, Kohl’s top the list

    October 24, 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 (6,506)
  • Investing (634)
  • Stock (941)

Latest Posts

  • Trump pressures Republicans to pass a continuing resolution to avert a government shutdown

    September 16, 2025
  • Republican Kevin Hern profits from UNH stock while overseeing Medicare policy

    July 18, 2024
  • ‘Intensely loyal’ Jill Biden aide despised by White House staffers, new book claims

    May 28, 2025

Recent Posts

  • Boeing machinists on picket lines prepare for lengthy strike: ‘I can last as long as it takes’

    September 24, 2024
  • At least 26 American hostages released since Trump took office

    April 12, 2025
  • Chip Roy says Democratic Party taking its ‘dying breaths’

    October 20, 2025

Editor’s Pick

  • Musk opens up about dinner party that soured when Trump’s name was invoked: ‘Like methamphetamine and rabies’

    February 19, 2025
  • ‘John Brennan, Gina Haspel era is over’: Ratcliffe, allies promise workforce changes at CIA

    January 28, 2025
  • Emmanuel Macron calls ’emergency meeting’ for European leaders to discuss Trump: report

    February 16, 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