USDCAD dips but does not run ahead of press conference
USDCAD falls below the 100 hour MA The Bank of Canada kept rates unchanged. That took the price below the 100 hour moving average of 1.
The Bank of Canada kept rates unchanged. That took the price below the 100 hour moving average of 1.39144, but the low price at 1.3882 is still above the low price from yesterday's trade near 1.3850 and above the low price from Monday's trade 1.38278. The Monday low was the lowest level going back to November 2024 when the price bottomed at 1.38171. All of those levels are now targets on more selling momentum.
On the topside, a move back above the 100-hour MA (and staying above) would give the buyers some hope.
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