The Revenue Rises
Trending Now
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
DP Trading Room: Key Support Levels for the...
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
Retirees ‘stunned’ as market turmoil over tariffs shrinks...
Week Ahead: NIFTY Set To Open Lower; Relative...
Market Drop Compared to 2020: What You Need...

The Revenue Rises

Economy

USDCAD AND USDCNH: USDCNH retreated to a new low

by admin August 7, 2024
August 7, 2024
USDCAD AND USDCNH: USDCNH retreated to a new low

USDCAD AND USDCNH: USDCNH retreated to a new low yesterday

  • Yesterday, we saw a new August high for USDCAD at the 1.39468 level. 
  • During this morning’s Asian trading session, USDCNH moved in the 7.13800-7.15200 range.

USDCAD chart analysis

Yesterday, we saw a new August high for USDCAD at the 1.39468 level. After that, the pair started a retreat until this morning at 1.37930 levels. This is where the weekly low and new support level for USDCAD were formed. From there, a new positive consolidation and recovery to the 1.38500 level were initiated. We are back above the EMA 200 moving average and need its support to continue on the bullish side.

Potential higher targets are the 1.38600 and 1.38700 levels. For a bearish option, we need a USDCAD pullback below the EMA 200 and 1.38200. That step strengthens the bearish momentum, and the pair will have to initiate a further pullback. Potential lower targets are 1.38100 and 1.38000. It is possible to start testing the weekly low in the 1.37900 zone.

 

USDCNH chart analysis

During this morning’s Asian trading session, USDCNH moved in the 7.13800-7.15200 range. Mild bullish consolidation pushes us towards the EMA 50 moving average and the 7.15400 level. If we go back to Monday, we will see the formation of a new weekly low at 7.08372 levels after a strong bearish consolidation. The pair managed to quickly stabilize there and start a recovery to today’s levels. For further growth on the bullish side, we need consolidation up to the 7.18000 level.

This moves us above the weekly open price and increases the chances of seeing a continuation on the bullish side. Potential higher targets are 7.19000 and 7.20000 levels. For a bearish option, we need a negative consolidation and a pullback to the 7.12000 level. That brings us back below the daily open price to form a new daily low. Potential lower targets are 7.10000 and 7.00000 levels.

 

The post USDCAD AND USDCNH: USDCNH retreated to a new low appeared first on FinanceBrokerage.

previous post
The fight to define Tim Walz
next post
QQQ: Critical Levels to Watch as Nasdaq Teeters on the Edge

Related Posts

S&P 500 and Nasdaq: Another all-time high for...

October 1, 2024

The dollar index fell to a new annual...

August 24, 2024

Could Bitcoin Reach $200000? Market & Expert Insights

February 21, 2025

Super Micro Stock: Company Accused of Accounting Misconduct

September 18, 2024

USDCHF and USDJPY: USDJPY continues bullish consolidation

August 31, 2024

Apple Stock Nears Buy Zone at $237

October 24, 2024

S&P 500 and Nasdaq: S&P 500 faces resistance...

September 4, 2024

Stock Futures Lower after S&P 500 futures ticked...

January 5, 2025

Gold & Silver Analysis: Key Levels & Trendline...

November 10, 2024

Bitcoin & Ethereum: Sharp Fall on Oct 31,...

November 6, 2024

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Recent Posts

    • Stock Market News UK Update: FTSE 100 & 250 Rise
    • Stock Market News UK Update: FTSE 100 & 250 Rise
    • DP Trading Room: Key Support Levels for the SPY
    • Stock Market News UK Update: FTSE 100 & 250 Rise
    • Stock Market News UK Update: FTSE 100 & 250 Rise

    Popular Posts

    • 1

      Polls show some good early signs for Kamala Harris

      July 26, 2024
    • 2

      Solana and Cardano: Solana is waiting for a new impulse

      July 18, 2024
    • 3

      The presidential race shifts — modestly, so far — toward Harris

      August 6, 2024
    • 4

      Donald Trump’s imaginary and frightening world

      September 23, 2024
    • 5

      DP Trading Room: PMO Sort on Earnings Darlings

      July 18, 2024

    Categories

    • Business (663)
    • Economy (965)
    • Politics (873)
    • Stocks (749)

    Disclaimer: therevenuerises.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 © 2024 The Revenue Rises. All Rights Reserved.