USD/CAD on the edge as technical support looms
Yesterday the USD/CAD came close to testing its noted 200 day moving average. That was in place then at 1.3464. It is in place today at the same level. The low seen yesterday was set at 1.3472, as the US dollar rejected a test of that key moving average. The USD/CAD did rebound modestly from that low and later lifted back towards 1.35 again, before later posting a US close at 1.3486. However, it is falling back again today and just now hit a fresh session low at 1.3468 and so under the low it set yesterday. The earlier session high was set at 1.3494. The USD/CAD looks like it might soon have a test of that important support level, but we shall see if it does or not and what it might do if it gets there. The USD/CAD is just now at 1.3469
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