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Forex technical analysis: USDCAD looks to test the days lows

Discussion in 'Technical Analysis' started by ForexLive, Feb 9, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Below 100 hour MA at 1.3827 The USDCAD is moving back toward the lows for the day (or so it seems) at the 1.3785 level. The low tested a broken trend line going back to Jan 2015 (see daily chart above). The price moved above that line in December. Last week it was broken but that break failed. The low today seemed to attract buyers on the old line.

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