Topside trend line is close resistance. 100 hour MA is close support
The USDCAD is in a down and up day. The price just peeked near the high from the 1st hour of trading. That level also tested a topside trend line at 1.4522. The high just reached 1.4530 and backed off. Sellers could not shove the price above that trend line and stay above.
The rotation back to the downside is now taken the price closer to the 100 hour moving average at 1.44498. The price just reached 1.4448. If the sellers can shove the price below that MA level (and stay below), would have traders looking toward the lower trend line at the 1.4360 area.
In the early NY session, there has been a shove away from the topside trend line. Can there be another shove below the 100 hour MA?
