100 hour MA and trend line stalling fall
The USDCAD has had it’s up and down run today as well (like many pairs). The pair is still higher after the dip off the high found buyers near the rising 100 hour MA (at 1.25843) and a lower trend line at 1.2578. The most recent low stalled between the two levels. Buyers are leaning.
The pair has moved away and currently trades at 1.2611.
At the highs earlier today, the high stalled just ahead of the high from last week at 1.26282. The high price reached 1.26258.
So overall, support buyers have leaned and resistance sellers have leaned as well. With the price between the technical levels, the battle is on between the levels. Good news for the buyers is the price has been able to stay above the the 100 hour MA (for the most part) since breaking above on March 18. Admittedly, the pair is not racing higher. There are lots of ups and downs. However, staying above that higher MA, and now the trend line too, is a tilt in the buyers direction. Get above the 1.26282 is the next hurdle.