It is Victoria Day in Canada, a national holiday, so it is not surprising that the USDCAD has had a holiday-like trading session today with little in the way of up-and-down price action. Nevertheless, the table has been set with a resistance area between 1.3517 – 1.35266 and a support area defined by the 50% midpoint, and a cluster of moving averages including the 100-hour moving average at 1.3486, the 200-hour moving average of 1.3476 and the 200 days moving average 1.3474.
As the day comes to a close and traders look toward Tuesday, they will be looking for momentum on the next shove On the topside watch 1.35266, and on the downside, watch for the break of the 200-day moving average of 1.3476