Reverses the earlier declines
The Q youUSDCAD moves toward unchanged on the day and in the process is testing topside targets including the 200 hour moving average at 1.30892, the downward sloping trendline on the hourly chart and the highs from Friday at 1.30963 (see chart below).
A move above those levels would be more bullish.
Looking at the dollar in general, it was the weakest of the majors, but is now trading near high levels in most of the major currencies with the exception of the GBPUSD.
The higher dollar has gold moving sharply to the downside. It is now down some $32 or -1.72% at $1839. Spot silver is also moving lower. It is down $0.57 or -2.4% at $23.59.
