Fell below MA line last Friday
On Friday, November 3rd, the Canada employment report came out better than expected.
That helped to pushed the USDCAD below the 200 hour MA. The fall ultimately bottomed just ahead of the 100 bar MA on the 4-hour chart today (see blue step line on the chart above).
The rise higher today stalled just ahead of the 200 hour MA (green line) at 1.28225. The high price today reached 1.28188. We currently are trading above and below the 100 hour MA.
Technically, stay below that MA and the downside correction move lower can continue. Move above and the door opens for a retest of the double top near the 1.2916 area.