Friday new high since July 27th stalls ahead of 200 hour MA
The USDCAD pushed higher on Friday, made new highs going back to July 27th, but stalled ahead of the 200 day MA at the 1.3257 level (the high reached 1.3247). The price has not been above the 200 day MA since March 16th.
Looking at the hourly chart, today, were have seen selling from the start of trading. That selling took the price below the 100 hour MA (blue line) but found support buying near low level from last week and swing high levels going back to August 31/Sept 1 (between 1.31279 and 1.31465). The corrective high today off those lows has been testing the broken 100 hour MA (there was one peak above the line) but so far, the lid has been kept on.
SO an intraday battle is on with resistance against the 100 hour MA at 1.3176 and support in the 1.31279-46 area.
