Bounced off 100 hour MA
The USDCAD tested it's 100 hour MA at 1.3271 area in the NA morning session and found willing buyers. The price has now moved above the swing highs from the last three days at 1.3303-07.
The next stops come in at the high from February 7 and the high from Feb 10 at 1.33203 and 1.33285 respectively.
Taking a broader look at the daily chart, the high price in February took out the high price from November 2019 at 1.33270, but only by a pip or two. Getting above both would open the door for further upside with the 1.3343 – 47 area as the next target. That area is home to the swing highs from August, September, and October.
