USDCAD above the 100 hour MA
USDCAD is trading at a new session high and, in the process, has expanded above its 100 hour MA at 1.27028. The pair is also approaching a downtrend line at 1.2727. Yesterday’s highs hit 1.27331. The 200 hour MA (green line) is at 1.27411. These are all bullish targets (you can also add a 200 hour MA at 1.27411) that all need to be broken IF buyers are to continue looking for an upward correction. Do not do this, and the bottom can be up. There can be ups and downs, but buyers don’t win.