USDCAD stalls at the 100 hour MA/50% retracement. Consolidates.

Technical Analysis

Author: Greg Michalowski | usdcad

If the price is going higher get above the 100 hour MA/50% (and 200 hour MA)

If the price is going higher get above the 100 hour MA/50% (and 200 hour MA)
Keeping it simple, the USDCAD has indeed stalled at the 100 hour MA and 50% retracement. The combo level gives buyers a cause for pause. It will take a move above that level and the 200 hour MA (green line) to scare the "sell high" sellers.  

The issue for the sellers is the market really ripped higher off the lows after the retail sales. So the 1.3393-1.3400 will be support that needs to be re-broken.  It is now support again. 
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