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USDCAD cracks lower trend line and approaches key 100 day MA

August 22, 2018 by admin 0 Comments

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Bounces…

Shorts pushed the USDCAD lower after the Fed minutes and the fall sent the price below a lower trend line at 1.30027. The low reached 1.2986. At the low the price got closer to the 100 day MA at 1.29803. That MA was tested on August 3rd and again on August 7th. Each time the price stalled ahead of the level. Today we have gotten the same reaction.