USDCAD Stuck Between Converging SMAs

<p><img width="612" height="405" src="https://www.actionforex.com/wp-content/uploads/2018/07/f-cad34.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://www.actionforex.com/wp-content/uploads/2018/07/f-cad34.jpg 612w, https://www.actionforex.com/wp-content/uploads/2018/07/f-cad34-600×397.jpg 600w" sizes="(max-width: 612px) 100vw, 612px" /></p>
<p>USDCAD extends its rebound to a fresh 1-month high But does not manage to close above the 50-day SMA Momentum indicators turn positive USDCAD had been staging a solid recovery from its December low of 1.3176, but the 50-day simple moving average (SMA) prevented further gains. Despite the rejection, the 200-day SMA has been acting as a […]</p>
<p>The post <a href="https://www.actionforex.com/contributors/technical-analysis/536029-usdcad-stuck-between-converging-smas/">USDCAD Stuck Between Converging SMAs</a> appeared first on <a href="https://www.actionforex.com">Action Forex</a>.</p>