December 9, 2022

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USDCAD stays below 200 hour MA after rate decision

1 min read

200 hour moving average at 1.20773

The USDCAD has moved higher after the rate decision, but found sellers near the midpoint of the range since May 20 at 1.20749, and just below the 200 hour moving average of 1.20773. Stay below that area and the sellers remain more control.

200 hour moving average at 1.20773_

On the downside, the low today reached 1.20556. That was just below the low from Monday at 1.20562. Needless to say breaking further below that level is needed to kickstart more downside momentum.

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