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Technical Analysis
USDCAD moves below 100 hour MA

USDCAD moves below 100 hour MA

Technical Analysis
Greg Michalowski
22/12/2021 | 15:21 GMT
  • 100 moving average being broken at 1.2880
USDCAD
USDCAD falls below its 100 hour moving average

The USDCAD is trading to a new session low and in the process is breaking below its 100 hour moving average at 1.28808. THe price is currently trading at 1.2875.

The next target area comes between 1.2853 and 1.28673 (see red numbered circles).

Crude oil is moving higher, up up $0.44 at $71.57. That is helping the CAD a bit.

US major indices are now all positive with the the S&P and NASDAQ up 0.25%.

Crude oil inventory data will be released at the bottom of the hour.

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