Technical Analysis

100 hour MA and swing area stalls the USDCAD rally

The USDCAD surged with the dollars run higher and raced through the 200 hour MA at 1.3229 and then tested the 100 hour MA at 1.32728. That level was joined by swing area.  The lows on October 29 and October 30 stalled at 1.3277.  A swing high from November 2, stalled near that level as well.   That level is now a key swing technical level.

The fall lower has taken the price to the broken 38.2% and high of a swing area between 1.3196 to 1.3207. That defines an interim swing low support area.

So technically the high resistance and low support are refined and defined with 1.32736-1.3277 above and 1.3196-1.3207 below.   

A level in between is the 200 hour MA (green line) at 1.32295.  

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