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Forex technical analysis: USDCAD moves above 200 day MA

Discussion in 'Technical Analysis' started by ForexLive, Oct 6, 2016.

  1. ForexLive

    ForexLive Forum Member

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    No closes above the MA line since March 15th, 2016 Oil above $50? Who cares. The USDCAD is ignoring the move above $50 per barrel in the price of crude oil futures and instead has broken above the 200 day MA at 1.32118. If the USDCAD goes higher, the CAD is weaker. That runs contrary to the normal price reaction to higher oil . The Canada economy is reliant on a robust oil industry and should benefit from higher prices.

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