The USDCAD has been moving up and down in recent trade including today. However, the price has seen the pair from the high move below the 100 day MA, the 100 hour MA, the 200 day MA but has been able to find support buyers at the 200 hour MA. Can the last MA now be broken?
Helping the move lower is higher oil prices which are up around $2 on the day.
Buyers and sellers are unsure. Hence the up and down volatility. However, if there is a break below the 200 hour MA, the sellers will assume more control.