Crude oil tests 200 day MA.
The price of the USDCAD has moved lower in trading today helped by a risiing crude oil price.
For the USDCAD, the pair has moved below a trend line at 1.3335 but stalled at the 100 day MA at 1.33116. The low for the day has reached 1.33129. Key test.
For crude oil. it is up $1.40 at $61.55 currently. The high for the day reached $61.72. The 200 day MA is at $61.69 today.
So both the USDCAD and crude oil are at key MA levels. Will traders lean against each of the technical levels? I would think so. However, on a break, the "leaners" may look to get out with a small loss and agressive trend traders might look to add to USDCAD shorts and crude oil longs.
Key levels being tested in each.
