USDCAD Gains Capped By 200 Moving Average
USDCAD is presently tackling the restricting 200-period simple moving average residing at the 1.3680 level, that being the 50.0% Fibonacci retracement of the down leg from 1.4047 to 1.3314. The existing bullish tone in the 50- and 100-period SMAs and the positive bearing of the Ichimoku lines further back additional price advances.
Overall, USDCAD remains positive above 1.3485. Overtaking the vital 200-period SMA at 1.3680, a very short-term bullish picture may endure, provided the pair follows with a break above 1.3737.
Overall, USDCAD remains positive above 1.3485. Overtaking the vital 200-period SMA at 1.3680, a very short-term bullish picture may endure, provided the pair follows with a break above 1.3737.