USDCAD moves up to hourly MAs

The USDCAD moved down to test the target support at the end of the trading day yesterday at 1.3813. The low price reached 1.3817 and the price decline slowed.

The pair has moved back higher on the back of the early success of the Trump team. The price has now moved up to the 200-hour MA/100-hour MA area. The 200-hour MA is at 1.38975. The 100 hour MA is at 1.3905.

A move above those levels would open the door for more upside momentum technically.

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The Georgia vote has Trump at 52.9% vs 46.4% Harris. That is big. However, there are still a lot of votes in the cities which should bring it closer but it is a climb.

There are a lot of votes left in Pennsylvania with Harris leading (57.5% vs 41.5% with 24%). Harris is leading MIchigan as well 53.7% VS 44.3% BUT very early 14%

NC is close with 50.4% Trump vs 48.5% of the vote with 50% of the vote counted (now being called for Trump despite the numbers). Trump spent all of yesterday in NC.

Virginia is even but lots of votes left in blue areas of the state. Biden won by 10% though. Not good for Harris.

The 2 year yield has moved to 2.289% which is the 3 month high. The markets still have Trump the favorite right now.

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