The value of the USDCAD has traded above and under the 100/200 hour MA over the past eight hours.
The USDCAD is chopping to a brand new session excessive. The chop has seen the worth commerce above and under the 100 and 200 hour MAs over the past eight hours.
A brand new hourly bar has simply began with the worth coming off a brand new excessive for the day at 1.27458. If the worth can now keep above the 100 hour MA at 1.27306, the patrons can be extra in management. Transfer under – and under the 200 hour MA at 1.27208 – and sellers are again in management (and the chop too).
Consumers making a play.
The subsequent goal is the 38.2% of the transfer down from the December 21 excessive at 1.2754. Get above, and the patrons really feel higher.