USDCAD tests 200 hour MA at 1.3270. Barometer for buyers and sellers.

The USDCAD is down testing the 200 are moving average of 1.3270.

Looking at the hourly chart, the USDCAD USD/CAD The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh Read this Term pair last moved below that moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term on Tuesday of last week, but momentum stalled and the price rotated back to the upside.

On Friday before the US and Canadian jobs reports, the price tested the 50% midpoint of the move down from the May 26 high at 1.33848, and rotated lower. The combination US and Canada jobs reports sent the pair sharply lower on Friday. That sent the price below the 100-hour moving average (blue line), but support buyers leaned against the 200-hour moving average (green line).

In trading today, the price has traded above and below the higher 100-hour moving average, but did stay below a swing area above between 1.3312 and 1.3322 (see red numbered circles on the chart above). That area is now resistance. Stay below keeps the sellers in play.

So far the 200-hour moving average is holding support. Getting back above the 100-hour moving average is now the short-term target.