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Forex technical analysis: USDCAD stalls near 100 day MA

Discussion in 'Technical Analysis' started by ForexLive, Aug 22, 2016.

  1. ForexLive

    ForexLive Forum Member

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    100 day MA at 1.29298. Oil prices are down 2.78% on the day to $47.17 on the day. That has helped the USDCAD move higher on the day. However, the pair is finding resistance against the 100 day moving average currently at 1.2930 area. The 38.2% retracement of the moved down from the August high of 131 997 to the August low at 1.27629 also comes in at that level. This seems to be putting a lid on the pair.

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