USDCAD above 100 bar MA on 4-hour chart for the first time since June 18


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First look above moving average in a month

The USDCAD has moved above the 100 bar MA on the 4-hour chart for the first time in a month (June 18). That MA comes in at 1.30828. Stay above now and the bulls are in control.

On the topside, the next targeet comes in at 1.30978 (call it 1.3100). That is home to the 38.2% of the move down from the June 21 high (a corrective high after the plunge on June 19/20.  That is the minimum retracement of the move down.  
Crude oil is now down $1.39 or -2.43% at $55.40. The contract is not far off the low at $55.33

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