200 hour MA stalled the fall earlier in the day
The USDCAD fell to a new session low with the help of oil and stocks rebounding.
The pair in the Asian session gapped higher and held the 200 hour MA (green line currently at 1.3455).
The pairs fall below that 200 hour MA now, hurts the bullish bias (or at least neutralizes the bias). The 100 hour MA remains below at 1.34397. The current price is at 1.3450.
The pair is stilll above the close from Friday (closed at 1.3420 area) and the 100 hour MA, but the buyers also had their shots above the 1.3467 to 1.34786 area (see red shaded areas at the highs. The NY session high also faded just ahead of the Asian/early Europe session high at 1.3493. Thhe break below that higher yellow area, helped to give the sellers more confidence….