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Forex technical analysis: USDCAD tests retracement level in up and down session so far

Discussion in 'Technical Analysis' started by ForexLive, Jan 21, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Oil prices down 0.81%. Inventory data out later (at 10:30 AM ET). Yesterday's trading flustered and frustrated traders as the BOC decision sent the USDCAD sharply lower but then retraced the entire move before moving lower into the close (and back below the 100 hour MA) blue line in the chart below). The move lower, broke the string of up days at 12.

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