USDCAD trades up and down this week with the pair now higher. What can we expect now?

The USDCAD has traded up-and-down this week. The initial move was higher into the top-side swing area resistance. In the middle of the week the move was to the downside (after the FOMC rate decision).

The last two days have been back to the upside. In the process the upside, the price has moved back above a cluster of moving averages including the 200-day moving average at 1.3485, the 100-day moving average and 200-bar moving average on the 4-hour chart at 1.3513, and the 200-bar moving average on a 4-hour chart at 1.3528.

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