{"id":113,"date":"2024-08-06T12:06:34","date_gmt":"2024-08-06T12:06:34","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/06\/usdcad-and-usdcnh-usdcnh-retreated-to-a-new-low\/"},"modified":"2024-08-06T12:06:34","modified_gmt":"2024-08-06T12:06:34","slug":"usdcad-and-usdcnh-usdcnh-retreated-to-a-new-low","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/06\/usdcad-and-usdcnh-usdcnh-retreated-to-a-new-low\/","title":{"rendered":"USDCAD AND USDCNH: USDCNH retreated to a new low"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>USDCAD AND USDCNH: USDCNH retreated to a new low yesterday<\/h1>\n<p><span>Yesterday, we saw a new August high for USDCAD at the 1.39468 level.\u00a0<\/span><br \/>\n<span>During this morning\u2019s Asian trading session, USDCNH moved in the 7.13800-7.15200 range.<\/span><\/p>\n<h2>USDCAD chart analysis<\/h2>\n<p><span>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 <a href=\"https:\/\/www.financebrokerage.com\/euraud-and-eurnzd-euraud-pulled-back-to-level-a-support\/\">consolidation<\/a> 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.<\/span><\/p>\n<p><span>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.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>USDCNH chart analysis<\/h2>\n<p><span>During this morning\u2019s 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\u2019s levels. For further growth on the bullish side, we need consolidation up to the 7.18000 level.<\/span><\/p>\n<p><span>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.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/usdcad-and-usdcnh-usdcnh-retreated-to-a-new-low\/\">USDCAD AND USDCNH: USDCNH retreated to a new low<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>USDCAD AND USDCNH: USDCNH retreated to a new low yesterday Yesterday, we saw a new August high for USDCAD at the 1.39468 level.\u00a0 During this morning\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=113"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/113\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/114"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}