Technical Analysis

100 day MA below.  Trend line and highs for October above.

The BOC is set to raise rates and the USDCAD traders has set the price between some close technical levels.

On the downside, the low today went down and tested the 100 day MA at 1.30675 and held. A move below that level will be more bearish.

On the topside, a topside trend line on the hourly comes in at 1.1313 currently. A move above that level will look toward the highs from October up to 1.13316.

Looking at the daily chart below, on the topside the March 20178 high came in at 1.3124. A trend line on the daily cuts across near that level as well.   So lots of topside levels between 1.1313 and 1.13316 that if broken, would be more bullish.  

The levels are in place.  


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