What we know technically is 200 hour MA above and 200 day MA below are the extremes (but need to be broken and remain broken).
The USDCAD has seen the price move lower, then higher, and then back lower and currently back higher.
The up and down price action ended up falling below the 200 day MA and 38.2% retracement at 1.32159 area, but that break failed (the low reached 1.3211). The high today, extended above the 200 hour MA at 1.32591 but like the break below the 200 day MA failed too. The high reached 1.3265.
In between those levels is the 100 hour MA at 1.3242.
With frustrating failures below key support and above key resistance can be part of a market that does not know which way to break. Indeed, the last 7 days has seen the price fluctuate up and down. The high has extended to 1.3277, while the low was at 1.3211. At some point, the price will breakout of that range. For now however, watch the extremes for clues and look for a break at some point with increase momentum.
