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USDCAD falls below support target after BOC decision

Discussion in 'Technical Analysis' started by ForexLive, Mar 9, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Falls below 100 hour MA. Traders will be eyeing the level now as close resistance The BOC kept rates unchanged and to me at least said that the assessment is neither hot nor cold. The USDCAD has pushed to the downside as the initial reaction. In doing so the price went from the 200 hour MA (green line in the chart below) to and through the blue line (the 100 hour MA at 1.3372.

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