Forex technical analysis: USDCAD tests broken 100 hour MA again

Are you going to keep the lid on the USDCAD?

The USDCADis back up retesting the 100 hour MA at 1.24802 level. That MA was busted in the Asian session, retested, fell and is now being retested for the 2nd time. Stay below is more bearish. Move above and the sellers on the break, may give up on the failure.

Going back in time, the 200 hour MA has not had a close below since September 18th. On September 20 the MA was tested on a dip. Since then, that MA (green line ) has not really been sniffed. It is moving higher though and that makes a breach easier if the sellers can overwhelm the dip buyers. If the sellers can keep control, the 200 hour MA would be the next key target.

For now though, it remains a distant target. If the sellers can keep a lid on the pair at the 100 hour MA it has a better shot. Sellers trying to keep control. We will see if they can stall the rally.

Let's block ads!(Why?)

Read Again Forex technical analysis: USDCAD tests broken 100 hour MA again : http://ift.tt/2hP1tf1

Let's block ads! (Why?)