• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Stock

USDCAD and USDCNH: USDCAD rises unstoppably above 1.38

by July 25, 2024
written by July 25, 2024

USDCAD and USDCNH: USDCAD rises unstoppably above 1.38000

During this morning’s Asian trading session, USDCAD continued its previous bullish consolidation. 
Today, we watched USDCNH fall to the 7.20285 level, where a new weekly low was formed. 

USDCAD chart analysis

During this morning’s Asian trading session, USDCAD continued its previous bullish consolidation. In the EU session, the pair gained strength and continued to 1.38494 levels, forming a new three-month high. The dollar is on a roll while the Canadian dollar is under severe pressure. We expect to see a continuation of the bullish side and the formation of a new high. Potential higher targets are 1.38600 and 1.38800 levels.

For a bearish option, we need a negative USDCAD consolidation to 1.38000 levels. There, we will test the daily open price. If the pair fails to hold above, it must drop to a new daily low. With that step, we confirm the bearish momentum and expect a further retreat to a new low. Potential lower targets are 1.37800 and 1.37600 levels. A major support zone is around 1.37400 in the EMA 200 moving average.

 

USDCNH chart analysis

Today, we watched USDCNH fall to the 7.20285 level, where a new weekly low was formed. After that, the pair managed to stabilize above 7.21000. We then initiate a bullish impulse to 7.24000 and expect to see a recovery of this pair to higher levels. Potential higher targets are 7.25000 and 7.26000 levels. We can expect the first stronger resistance in the 7.26500 zone in the EMA 50 moving average.

For a bearish option, we need a passive consolidation of USDCNH below the previous support at 7.21000. After that, the pair will be under pressure to slide to a new low, and thereby confirm the bearish momentum. Potential lower targets are 7.20000 and 7.19000 levels.

 

The post USDCAD and USDCNH: USDCAD rises unstoppably above 1.38 appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
AI Shares Drop: US and Asian Markets at a Decline
next post
Why an indicator that has foretold almost every recession doesn’t seem to be working anymore

You may also like

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

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

Kraken Rolls Out Commission-Free Stock Trading

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • Semtech Showcases Next-Gen LoRa® Technology at IoT Solutions World Congress 2025

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Categories

    • Economy (679)
    • Editor's Pick (348)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.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 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick