The USDCAD moves higher & away from moving avg. support.Can the buyers keep the momentum.

The USDCAD is running to the upside and in the process is moving away from the 100/200 bar MA on the 4-hour chart. Both of those moving averages are near 1.3536 (the current price is trading at 13582).

The price high has moved to 1.3585 which was also the hybrids going back to the week of February 12. Getting above that level in trades would start to focus on eight key swing ceiling that comes in between 1.36049 and 1.36269. The last two trading weeks have seen price action stall within that swing area increasing the areas importance going forward.

In this video above, I outline the technicals in play with a focus on the bias, the risks, and the targets going forward.

This article was written by Greg Michalowski at www.forexlive.com.