Do we make a run for the 100 day MA at 1.3299 area?
The USDCAD is testing the 38.2% and the 100 bar MA on the 4-hour chart. There is a bit of a stall against the level.
At the same time the
- EURUSD is testing last weeks high at 1.0714
- The USDJPY is below its key support at 113.51 though (more dollar bearish).
- The GBPUSD just tested the 100 bar MA on the 4-hour chart and held at 1.2303. (trying to stall)
So there is some tough levels being tested in lots of the major currency pairs.
On a break (and it might be that all pairs go together) the 100 day MA at 1.3299 is the next target. With the 100 day MA there and the number being a natural support level, expect a stall on the first test.