The USDCAD has seen the price move down to test key support near the convert 100 and 200 hour moving average at 1.3587. Below that is a swing level near 1.35825. The low price reached 1.3581 just below those levels, but has bounced back higher.
Sellers could not extend below that target level with any momentum. Buyers have reentered modestly with the current price trading at 1.3599.
If the sellers are to take more control, getting below the 100 and 200 hour moving averages, and the swing level at 1.3582 is needed. Absent that and the buyer still have more control.
US stocks are up and down. The Dow industrial average is now down abound 20 points or -0.6%. While the S&P is up 10.8 points or 0.27%. The NASDAQ index is up 78 points or 0.64%.
US yields are still lower but off their lowest levels (at 3:05 PM ET):
- 2 year yield 3.951% -3 basis points
- 5 year yield 3.421% -4.5 basis points
- 10 year yield 3.410% -2.8 basis points
- 30 year yield 3.720-1.1 basis point
