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Forex technical analysis: USDCAD moves higher on day, BUT...

Discussion in 'Technical Analysis' started by ForexLive, Nov 4, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Follows the US dollar higher but oil also higher. The USDCAD has followed the USD higher and in the process moved above trend line resistance, the 100 hour MA (blue line) and the 200 hour MA (green line). The move above the two moving averages has seen the price rotate back below the levels (at the 1.3149 and 1.3140 levels respectively). However, the broken trend line has been able to hold support (at the 1.3124 level currently). Watch this level for bias clues. Stay above bullish. Move below and the sellers may enter...

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