100 day MA at 1.30393
The USDCAD is rising to new session highs. Concerns about NAFTA? A little more bullish technically? Yes and Yes.
Technically, the pair stayed above a floor area in the 1.2974-798 area. It has also moved above a trend line. We are moving back above the 61.% at 1.30164 and moves toward the key 100 day MA at 1.30393. That would be a key barometer for bulls and bears. We should see some resistance on the test.