Falls to the 100 hour MA
The USDCAD has taken a quick tumble to the 100 hour MA at the 1.30987 level. The pair fell below the low for the day at the 1.3126 level and fell the next 28 pips without much in the way of support. There is some slowing at the 100 hour MA. The lows from yesterday also come in at 1.3098. So a key level.
A move below the 1.3098 level should solicit more selling with the 1.3074 as the next target (lows from Friday and 38.2% of the base before the surge higher last week.
WTI crude has moved up to just below $49.00 (currently trades at $48.85). The high reached $48.96 so far. The low was at $47.62. The price is up 1.54% on the day.
