Forex technical analysis: USDCAD fast break the other way

Up on the day...

The USDCAD has moved sharply higher, erasing the losses on the BOC decision. Crude is trading with a $26 handle now (down 5.38%). The stocks are down over 3% in the US and down as much as 4.43% in Europe (Italy FTSE MIB).

For the USDCAD, the price moved above the 1.4577 close from yesterday. All of a sudden, the sellers after the announcement (my guess is most of the sellers were at levels lower than that closing level - and most below 1.4550) are not feeling so well. You do not want to get in the way. (PS the rally did base when the 100 hour MA could not hold the breaks...)

So we are back to 1.4577 will be a line in the sand the other way. Or you can take a step back and wait the volatility out....Polloz up.is

SORRY ADAM... STOMP....UGH....