The USDCAD turns away from 200 day MA

Technical Analysis

Author: Greg Michalowski | usdcad

A new November high but can't get above the 200 day MA

A new November high but can't get above the 200 day MA
The USDCAD has been able to extend toward the recent highs and the 200 day MA at the 1.3267 to 1.3274 area (see earlier post).  The high reached 1.3271.   That took the price above the November 14 high at 1.32698 but fell short of the key 200 day MA at 1.3274.  

The price is back at 1.32647. Can the price stay below that area?  Risk is defined and limited against the level for the sellers.   

Get below the 1.3257 is the close target now.  
ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose