USDCAD corrects higher and extends to 200 hour MA. Can the MA level be broken?

The USDCAD has moved higher today helped by the US CPI data. The price extended above its 100 hour moving average at 1.3613 and has moved up to test its 200 hour moving average 1.3660.

Yesterday and earlier this week, the price stalled again sets rising 200 bar moving average on the 4 hour chart giving the buyers some hope at the lows.

The data and move today, rewarded those dip buying traders against that key technical support

Crude oil inventory debtors will be released shortly.

This article was written by Greg Michalowski at Source