(Last Updated January 12, 2021 2:13 GMT)
Currently, USDCAD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for USDCAD, which started today off at 1.27832, up 98 pips 0.77% from the previous day. Compared to its peers in the Forex, USDCAD gave its buyers a return that ranked 7th in terms of percentage change since the previous day. Below is a price chart of USDCAD.
USDCAD Technical Analysis
Notably, USDCAD crossed above its 20 day moving average yesterday. 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 down 16 out of the past 30 days.