Moves between the 200 and 100 day MA
The USDCAD is trading near session highs. In the process, the pair trades between support at 1.3217 from the 200 day MA and resistance against the 100 day MA at 1.32805. That is a 63 pip spread. We trade at new highs at 1.3264 now.
Earlier today the price stalled at 1.3223 - within 6 pips of the 200 day MA. Close enough for willing, low risk buyers.
Do the sellers now lean against the 100 day MA? We are getting closer to the test.