November 30, 2022

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USDCAD’s weird up and down symmetrical move

1 min read

Move down mimics the move up from last Thursday

The USDCAD got within about 4 pips of the 200 hour MA at 1.2637.  The low price reached 1.26418.

Move down mimics the move up from last Thursday

What is somewhat unusual is that the move down today is very close to the move higher last Thursday.  

ON Thursday the low was at 1.26452, and the price high reached at 1.28299 or 184.7 pips.

Today the price high early in the Asian session reached 1.28327, and the low reach 1.26418 or 190.9 pips.  

In between the two days was Friday where the up and down range intraday was also symmetrical with the low at the start of the day, nearly equal to the low toward the end of the day (with a spike high in the 12th hour of the day.  

There is a lot of symmetry  in the price action higher and the price action back lower.  

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