Breaking above 100 and 200 hour MA
The USDCAD teased the downside floor at the 1.3231 area (see lower yellow area). The price could not break. Buyers leaned and the price is moving back higher.
We just broke above the 100 and 200 hour MAs at 1.31618. The 100 day MA was also broken at 1.32539. Staying above each of those levels tilts the bias more to the upside. We are seeing a run to new session highs as I type at 1.3272.
On the topside the high from yesterday at 1.32878 is the next target. Above that is the 200 day MA at 1.32977 and the other swing highs at 1.33039 and 1.33094.
We are now in day 9 of the ups and downs for the USDCAD.
