USD/CAD Down 31 Pips Over Past 4 Hours; in a Downtrend Over Past 14 Days

USD/CAD 4 Hour Price Update

Updated July 31, 2020 05:05 PM GMT (01:05 PM EST)

The back and forth price flow continues for USD/CAD, which started the current 4 hour candle off at 1.339, down 31 pips 0.23% from the last 4 hour candle. Compared to its peers in the Forex, USD/CAD gave its buyers a return that ranked 31st in terms of percentage change since the last 4 hour candle.

USD/CAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/CAD continues; to start today, it came in at a price of 1.34193, down 2 pips (0.02%) since yesterday. Relative to other instruments in the Forex asset class, USD/CAD ranked 31st yesterday in terms of percentage price change. Let’s take a look at price chart of USD/CAD.

USD/CAD Technical Analysis

Notably, USD/CAD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 70.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days USD/CAD’s price has gone down 6 them.

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