FX.co ★ Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday July 10, 2024.

Based on the 4-hour chart, the USD/CAD commodity currency pair appears to be currently moving sideways but is under pressure from sellers who are still dominating, which is confirmed by the 20 EMA which is below the 50 EMA and the price movement of The Lonnie which is still below the 50 EMA. Even though later there will be an attempt at a strengthening correction as long as it does not broken above the 1.3656 level, USD/CAD still has the potential to try the 1.3600 level. If this level is successfully penetrated downwards, USD/CAD will continue its weakening to the 1.3550 level.

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