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

USDCAD and USDCNH: USDCAD continues to slide to a new low

by August 22, 2024
written by August 22, 2024

USDCAD and USDCNH: USDCAD continues to slide to a new low

This week, the USDCAD has consistently been in a bearish consolidation
During the  Asian session, USDCNH managed to stabilize above the 7.12500 level

USDCAD chart analysis

This week, the USDCAD has consistently been in a bearish consolidation. In today’s EU trading session, a new weekly low was formed at the 1.35716 level. After that, we saw an attempt to recover to the daily open price of 1.35940. We have resistance here for now and need a stronger impulse to move us above. If we were to succeed, the pair would have the opportunity to start further growth on the bullish side.

Potential higher targets are the 1.35900 and 1.36000 levels. If we break 1.36000, we could get support from the EMA 50 moving average. For a bearish option, we need a negative consolidation and pullback to the 1.35700 level. That move would see USDCAD retest this week’s support. Failure to hold above will push us to a new low. Potential lower targets are 1.35600 and 1.35500.

 

USDCNH chart analysis

During the  Asian session, USDCNH managed to stabilize above the 7.12500 level. This triggered a bullish consolidation and a jump to the daily high at the 7.14400 level. Meanwhile, we received support from the EMA 50 moving average, which added to the bullish momentum. Potential higher targets are 7.14500 and 7.15000 levels. The pair could have additional resistance in the EMA 200 moving average in the zone of 7.15000 levels.

For a bearish option, USDCNH would have to initiate a bearish consolidation first. With the descent below the 7.13000 level, we fall to the negative side below the daily open price and the EMA 50 moving average. With that move, the bearish momentum will increase, and we will have to start retreating to lower levels. Potential lower targets are 7.12500 and 7.12000 levels.

 

The post USDCAD and USDCNH: USDCAD continues to slide to a new low appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Pelosi hypes up Biden at DNC after reportedly helping to orchestrate his ouster from the race
next post
Ford delays new EV plant and cancels electric three-row SUV as it shifts strategy

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

  • ‘Shark Tank’ star insists AOC is a capitalist at heart: ‘The best marketeer in politics’

    April 30, 2025
  • Iranian woman strips down in anti-hijab protest following vicious assault by regime militia

    November 3, 2024
  • Lincoln gave us Thanksgiving as a time to unite. We owe it to him to try

    November 27, 2024
  • Ramaswamy warns GOP on several ‘hard realities’ to address before criticizing Harris: ‘Hurting our chances’

    July 26, 2024
  • Ukraine: How the war shifted in 2024

    December 31, 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

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

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

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

    July 19, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • United Airlines adds Thailand, Vietnam and Australia flights in latest expansion

    April 2, 2025
  • Wayfair CEO likens home goods slowdown to 2008 financial crisis

    August 2, 2024
  • Musk says he hopes for ‘zero tariffs,’ freedom of trade zone between US and Europe

    April 6, 2025

Recent Posts

  • Trump blasts Biden’s DOJ: They tried to turn US into a ‘corrupt communist’ third world country

    March 14, 2025
  • Trump and Harris poll in dead heat in NBC News survey as Election Day approaches

    October 14, 2024
  • Israel, British Jews slam UK’s ‘hypocritical’ decision to suspend arms exports

    September 6, 2024

Editor’s Pick

  • World leaders react as Trump re-enters the White House

    January 21, 2025
  • Lawmakers crack down on CCP influence in US government tech, warn of potentially ‘devastating’ cyber attack

    September 13, 2024
  • AI cameras are giving DC’s air defense a major upgrade

    December 21, 2024
  • 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