Above 100 and 200 hour MAs
The USDCAD moved greater as we speak however as soon as the highs from Jan eight and Jan 17 had been approached, the consumers dried up. Threat might be outlined and restricted in opposition to the degrees and sellers leaned. The worth moved as much as 1.33178 earlier than stalling.
The ceiling is now extra strong on the 1.33178 to 1.33215 space. On the draw back, the closest help is available in on the 100 and 200 hour MAs at 1.33705 and 1.32574. Under that, final week’s lows stalled the autumn at 1.3225-26 space.
So inside 100 pips, there’s a ground help at 1.3225 and a ceiling at 1.33215. Merchants willl view these extremes as threat defining ranges till damaged. In between, keep watch over the 100 and 200 hour MAs for threat ranges between.