USDCAD moves down toward a key support target

Name: USDJPY moves up to the 200 hour MA.. and stops
Uploaded: 2023-05-05T13:33:13.000Z
Description: The USDJPY has moved higher after the US jobs reports, but found willing sellers near the broken 38.2% of the April to May trading range. The rise also found willing sellers near the 200 hour MA as well. What now? I speak to the pair and the options.

200 day MA approached

Greg Michalowski

The USDCAD is moving closer to its 200 day moving average at 1.3440 after a couple days of steady selling in the pair. Higher oil prices have contributed to the Canadian dollars strength. The price of oil intraday yesterday reached a low of $63.70 yesterday. It is trading above $71 today.

Will buyers come in against the 200 day moving average?