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Forex technical analysis: USDCAD moves away from the 100 hour MA

Discussion in 'Technical Analysis' started by ForexLive, Apr 15, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Double top at 1.2896 area The USDCAD has been encouraged higher by lower oil prices today. Manufacturing sales came out weaker at -3.3% which is also a disappointment (estimate -1.5%). Technically, the move higher was encouraged by break of the 100 hour MA and a trend line connecting the weeks highs from Monday and yesterday. The break of both was the catalyst needed for higher prices.

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