Forex technical analysis: USDCAD showing more bearishness but..

Discussion in 'Technical Analysis' started by ForexLive, May 12, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    The "but" is the swing low from May 5 The USDCAD is showing signs of weakness. The pair yesterday chopped around the 100 hour MA (blue line in the chart below) early on, then tested and held the MA on a final test around the time of inventory data. That gave the sellers the go-ahead to take the price low an they have stepped the pair lower.

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