USD/CAD Up 3 Pips On Hourly Chart, Moves Down For the 3rd Day In A Row; Crosses 20 Day Moving Average

Hourly Update

(Last Updated September 12, 2022 1:34 GMT)

At the moment, USDCAD’s rate is up 3 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 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)

USDCAD is down 65 pips (0.5%) since the day prior (opening today near 1.3026), marking the 3rd day in a row a decrease has occurred. Compared to its peers in the Forex, USDCAD gave its buyers a return that ranked 27th in terms of percentage change since the day prior. Below is a price chart of USDCAD.

USDCAD

USDCAD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDCAD crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.