USDCAD makes it to a new high for the week and reaches next target. More work to do. | Forexlive

The USDCAD moved above the 100 day MA a few hours ago and waffled near that MA level. In the last hourly bar heading into the London/European close the 100 hour MA buyers were still battling with the sellers. However, the buyers held their ground and pushed the price higher (see earlier post).

The price has moved above the high for the week at 1.33354. The high reached 1.3346 so far.

Looking for more upside?

The 38.2% of the move down from the high last week is at 1.33570. That is minimum correction target if the buyers are to take more control. Above that and the 200 hour MA at 1.33867 and the 50% of the same move lower at 1.33977 is targeted.