USD/CAD Down 23 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

USD/CAD 4 Hour Price Update

Updated July 27, 2020 09:11 PM GMT (05:11 PM EST)

USD/CAD entered the current 4 hour candle at 1.3361, down 23 pips (0.17%) from the previous 4 hours. Relative to other instruments in the Forex asset class, USD/CAD ranked 33rd the previous 4 hours in terms of percentage price change.

USD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CAD is up 10 pips (0.08%) since the previous day (opening today near 1.3421), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, USD/CAD gave its buyers a return that ranked 4th in terms of percentage change since the previous day. Below is a price chart of USD/CAD.

USD/CAD

USD/CAD Technical Analysis

Notably, USD/CAD is now close to its 20, 50 and 200 day averages, located at 1.3531, 1.3553 and 1.3577 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 110.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.