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USDCAD buyers push higher, but the 100-day MA remains a key hurdle

Reported · Written up by our desk · Major Pairs

The USDCAD trended higher through September (see chart below), but the buyers ran into a ceiling in early October. Three separate highs between October 5 and October 14 stalled near 1.4291–1.4298. The buyers had their chances to extend the trend. They could not get through. That inability to break higher opened the door for sellers, and the subsequent move lower was quick and directional. The decline continued until October 23, when the price reached 1.3968. That low stalled just above an important swing area between 1.3948 and 1.3963. The 61.8% retracement at 1.3948 added techn

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