The MAs and trend line will be eyed in the new day as a barometer
The USDCAD as moved back down and in the process dip below the 100 hour moving average at 1.2384, but found support buyers against the 200 hour moving average at 1.23777. An upward sloping trendline also cuts across near that 200 hour moving average level.
In the new trading day traders will eye those moving averages as a barometer for the buyers and sellers. Stay above and the buyers are hanging onto control. Move below and stay below, and the sellers are in more control.
