Technical analysis of USDCAD on the 1-hour timeframe; June 28, 2023.deltawriter 28 June 2023
The Canadian dollar has experienced a downtrend following the announcement of the Consumer Price Index (CPI) for the month of May in the country. Currently, this currency is under selling pressure, and after the price dropped below the 1.3250 level and formed a daily moving average crossover pattern, it is likely that traders will be attracted to more bearish signals. On the other hand, buyers are always striving to enter the game, and a move from the 1.3110 level with a close above 1.3170 is seen as a hopeful sign. Currently, the 1.3240 level is considered an important range for a change in direction.
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