Forex - Chart USD/CAD Update: Profit-taking hits sooner than expected; 100-day MA back in play


 13:40 (GMT) 08 Feb

  [Forex Charts]

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Chart USD/CAD Update: Profit-taking hits sooner than expected; 100-day MA back in play (0101-HWNJ-C01)

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Asterisk denotes strength of level

13:40 GMT - USD/CAD intraday power plunge action back below the 1.3285 level forces us to move back to neutral for now and wait to see if the 100-day MA at 1.3224 holds or folds into the weekend. If the mkt holds the 100-day MA, the dip buyers could be back, but if mkt ends the day below the 100-day MA then the 200-day MA at 1.3135 is back in play in the week ahead.


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