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USDCAD back down retesting 100 hour MA

The USDCAD has reversed back toward the 100 hour MA (again). The last two days has seen the market pushing to that MA level (blue line). Each move lower, traders have entered, and pushed the pair higher.

Earlier today, the pair tested the level and bounced. The high off that bounce stalled ahead of the earlier high and the high from last Friday as well.

Will buyers reenter and stall the fall once again?

Key test and barometer for buyers and sellers.

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Content Topics

Usdcad

Back

Down

Retesting

Hour

Forex

Posted: Mar 1 2023, 17:30

Author Name: forexlive

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