USDCAD moves toward a retest of the 100 day MA

Technical Analysis

Author: Greg Michalowski | usdcad

100 day MA at 1.30393

The USDCAD is rising  to new session highs.  Concerns about NAFTA?  A little more bullish technically?  Yes and Yes.

Technically, the pair stayed above a floor area in the 1.2974-798 area. It has also moved above a trend line. We are moving back above the 61.% at 1.30164 and moves toward the key 100 day MA at 1.30393.  That would be a key barometer for bulls and bears.  We should see some resistance on the test. 

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