The USDCAD has made a move to the upside today with the help of technical breaks through some key moving averages. More specifically, the.
- 100 and 200 hour moving averages were broken near the same level at 1.3688
- 100 bar moving average on the four hour chart was broken at 1.37169
The move higher also extended above a swing area between 1.3714 and 1.3728. That area will now be close support for traders looking for more upside.
The video above outlines the roadmap for the USDCAD and the levels now in play as the bias turns more to the upside on today’s move higher.
This article was written by Greg Michalowski at www.forexlive.com. Source