USDCAD jumps after the market fails to get a hawkish BOC

1.2747 is the high so far, up from 1.2650 and we face a confluence of moving averages on the H4 chart.

USDCAD H4 chart

1.2755/56 & 57 is where they sit and that might be a tough enough test to see the pair pull up on this move. If not, 1.2800 beckons. For longs below, this will be an area to watch closely as if it holds, that might be a signal to take money off the table. Beware the second or third winds that we can sometimes get in this pair. My long average is 1.2717 so I’m going to lock some of my gains in and see how we do. If we test and fail at these MA’s I might take some off anyway.

Ryan Littlestone

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