The 100 day MA stalled the rally last Friday and again today
The USDCAD moved to a new session high of 1.31921. That was just below the 100 day MA at 1.31923. On Friday last week, the price moved up to the 100 day MA after the US employment report but ran into sellers. Second verse same as the first (or at least the last).
The high from yesterday at 1.31776 and broken trend line at 1.3171 are the next downside targets that if broken, would tilt the bias more to the downside.
For now, sellers leaning against the 100 day MA are hoping that if it remains a lid, things will be alright going forward.
