USDCAD pushes below 100 hour MA. Can it stay below?

Technical Analysis

Author: Greg Michalowski | usdcad

Tests session lows

The USDCAD is moving below the 100 hour MA  at 1.30388 and in the process is just making new session lows as well. The 50% of the move up from the Jan 7 low comes in at 1.3030 and is being tested at the lows. The low from Friday reached 1.30283. Get below those levels and traders will be eyeing the 200 hour MA at 1.30108.  

Tests session lows
Sellers making a play on the break of the 100 hour MA. Can they keep the pressure on and the price below that MA level?  Can they push the price below the 1.3028-30 area?  Those are the keys technically for the day.


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