The USDCAD has been down for four consecutive days, and today, the price is approaching its 100 day moving average at 1.35143. The low price today reached 1.3523 so far.
The price of the USDCAD has closed above its 100 day moving average since February 21 (see blue line in the chart above). A move below that level would increase the bearish bias. Looking at the
Looking at the hourly chart below, traders will now watch the 1.3553 – 1.35597 as a close risk defining level. Stay below is more bearish (see red numbered circles). He moved back above that area would give the debt buyers against the key 100 day moving average some added confidence.