| Price remains below the 100 and 200 day MAs. The USDCAD is trading up and down today, but remains below key MA levels to the topside. ON the daily chart, the pair is about 100 pips below the 100/200 day MAs near 1.3512. Drilling in to the hourly chart, the pair is below the falling 100 hour MA at 1.3467. It would take a move above the daily MAs and the falling 100 hour MA to tilt the technical bias back to the upside. It is the risk for the sellers looking for more downside momentum perhaps helped by a hawkish BOC tomorrow. . |
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