USD/CAD Holds Below 200-Hour Moving Average

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USD/CAD Holds Below 200-Hour Moving Average

By Greg Michalowski on March 11, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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USD/CAD has so far held below 200 hour moving average. The pair is currently trading at 1.2775 support. Major support comes into play near the 1.2720 level. A break below this level will be a signal that the trend may be firming itself to the downside in the USD/CAD.

Below this, the 1.2665 area offers further support. On the upside, a move higher would likely bring the pair back to the 200 hour MA near the 1.2846 level, above that, 1.2872 (100 hour MA).

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