• 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

  • 4 signs that show Trump’s foreign policy remains staunchly anti-Russian

    March 11, 2025
  • Biden defends controversial autopen use for mass clemency decisions in NYT interview: ‘A whole lot of people’

    July 14, 2025
  • USDCHF and USDJPI: USDJPI falls under pressure this morning

    August 5, 2024
  • AI accusations mar UK election as candidate forced to defend authenticity: ‘I am a real person’

    July 21, 2024
  • Ripple and Tron: Tron is back on the positive side

    September 26, 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

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

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,593)
  • Investing (634)
  • Stock (867)

Latest Posts

  • Claim Trump nixed top Musk ally from NASA post over Dem donations belied by ex-Dems on team

    June 6, 2025
  • Meta brings eBay to Facebook marketplace: a bold new test for tech giant?

    January 9, 2025
  • George Washington’s sacred tradition, a gift to every president and all Americans

    November 1, 2024

Recent Posts

  • Elon Musk dubs himself the ”George Soros’ of the middle’

    November 14, 2024
  • Interview: Trump family’s Bitcoin mining deal is a sign of industry legitimization and an ‘influencer endorsement,’ says GoMining CEO Mark Zalan

    April 13, 2025
  • Harvard’s battle with the Trump administration is creating a thorny financial situation

    April 18, 2025

Editor’s Pick

  • Jaguar reveals glossy rebrand that features no cars and confuses the internet

    November 20, 2024
  • Federal judge delays Trump administration’s buyout deadline for federal workers

    February 6, 2025
  • Trump must not repeat his Kim Jong Un mistake with Iran, security expert warns

    February 8, 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