USDCAD moves to session highs but stalls at 50% retracement (again). Can the level be broken?


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Above the 200 hour MA at 1.29626, Below the 50% at 1.29736.


The USDCAD was goosed higher. PM Trudeau said Canada was not in a hurry to do NAFTA deal.  Autos and dairy continue to be sticking points for both sides.
Technically, the price of the USDCAD moved above the 200 hour MA at 1.29626. The problem is the price has stalled ahead of the 50% retracement of the move down from the September 18th high at 1.29736. That was near the high from yesterday as well.  
So there is a battle going on. Staying above the 200 hour MA (first break and potential close above that MA since September 11th) is giving the buyers the chance to take it higher.  A move higher will look toward the 1.2995-1.3000 area.  
ForexLive
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