Runs higher after stronger Ivey ignored
The USDCAD has run higher a much stronger Ivey PMI failed to send the loonie higher. At the lows, the pair was torn between the 100 day MA at 1.30698 and the 100 bar MA on the 4-hour at 1.3082. The 1.3082 level was broken and the price raced higher (see earlier post).
The USD overall, has also been moving higher over the last few hours.
The price has moved up toward the 200 hour MA and the underside of a broken trend line at 1.31122. The high has reached 1.3119. The 100 hour MA below comes in at 1.3102.
The buyers and sellers are having a little of a battle at this area.
Traders long want to see more momentum above the 200 hour and trend line.Sellers want to see the 100 hour MA broken (say the 1.3100 level).