The buyers are taking more control in the USDCAD after early declines found support buyers near the 100 bar moving average on the 4- hour chart. The rise has now taken the price above the 200-bar moving average on the 4- hour chart. That moving average comes in at 1.3682 and is now closed support for buyers. Stay above and upside probing can be expected going forward.
PS Bank of Canada cut expected next week after tamer CPI data yesterday.
This article was written by Greg Michalowski at www.forexlive.com.
Source link
