USDCAD moves up at to test the 100 hour MA

Written February 22, 2010 at 11:21 AM EST by  

gregmike-00533

Watch the 100 hour MA at the 1.0443 level.  The USDCAD has benefitted from  lower oil price and generally a higher dollar bias in NY.  The pair moved above key resistance at 1.0415 and now looks at the next key level.  A move above is needed to excite further buying with the 200 hour moving average (green line in the chart above). Support remains against the 1.0415 level.

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