| While Canada observed a holiday on Monday, the USDCAD managed to reach a significant milestone by testing its 100-day moving average (MA). The currency pair encountered willing sellers at this crucial level, resulting in a price retreat. Now, the question arises: What lies ahead for the USDCAD? In this analysis, we closely examine the USDCAD's price action, discuss the implications of the test of the 100-day MA, and explore potential scenarios for the currency pair's trajectory in the coming trading sessions. Stay informed and make well-informed trading decisions by understanding how key technical levels can impact the USDCAD's movements. |
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