USDCAD buyers trying to make a play to the upside in the short term.Watch the 100 hour MA.
. The USDCAD rally stalled yesterday at the 100-hour moving average (MA) , reinforcing its significance as a key technical resistance level.
The USDCAD rally stalled yesterday at the 100-hour moving average (MA), reinforcing its significance as a key technical resistance level. Over the past four trading days, price action has been choppy, with buyers and sellers battling for control.
Today, the pair broke above the 1.4192 level, triggering buying momentum and pushing the price to a high of 1.4221. However, the rally lost steam following weaker-than-expected U.S. housing starts data (-9.8%), leading to a pullback.
The price is now retesting the 100-hour MA, which serves as a critical short-term pivot. Holding above it would signal further bullish momentum, while a drop below would shift control back to the sellers, disappointing buyers.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.
