Little support at support in the USDCAD

Discussion in 'Technical Analysis' started by ForexLive, Aug 4, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    But were stops hunted? The 1.30097 level was cracked without much problem (200 bar MA on the 4 hour chart) and stops were triggered to a low of 1.2994. The price is back up to 1.3010 quickly making me think it may have been some stop triggering shenanigans. Oil prices did also push above the $42.00 at the same time, however. The fall did take out last weeks low at the 1.2999 level. Watching the 1.3010-16 area now. A move above it will take some of the sting away from the break and may signal that it was more stops being triggered than happy sellers.

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