Technical Analysis

USDCAD falls after the BOC resolution

Approaches the 100 day MA at 1.31639

The BOC saved charges unchanged saying hikes rely upon how oil and housing outlooks evolve.  Nonetheless, the worth of the USDCAD has moved decrease – buying and selling on the lowest degree since December 4th.  Within the course of, the pair can also be shifting towards the 100 day MA at 1.31639. The low worth has reached 1.31793 to date.  

I’d anticipate that 100 day MA to be a tricky nut to crack on the primary check. So search for some revenue taking/new consumers on the degree however with stops on a break beneath.   You need to respect the extent. 

The USD has been extra weak over the past hour or in order effectively which is contributing to the autumn. 

The EURUSD has cracked above its 100 day MA at 1.14777 and ran increased. The USDJPY simply broke again beneath its 100 hour MA at 108.424. 

ForexLive


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