No closes beneath the MA since October
The USDCAD is taking one other run towards the 100 day MA. That MA is available in at 1.31966. On Monday the worth approached the extent and bounced. Earlier within the month, the worth approached the road and stalled. Again in November, there have been two two makes an attempt to interrupt and every failed.
The “market” is concentrated on that MA degree.
In the present day’s transfer has been development -like.
Trying on the 5-minute chart, the pair has been monitoring decrease and decrease, with a check of the 100 bar MA within the early European session. Sellers leaned and the momentum has been stronger (little retracements). The lagging 100 bar MA is at 1.32318 at present (and transferring decrease).
It will take a transfer above that MA to tilt the intraday bias again to the upside now.
UPDATE: The pair simply ran to the 100 day MA. Promoting intensifies as stops triggered