USDCAD bounces back higher. Test 100 hour MA and the 38.2% retracement ...Middle East

Technically, the price is back near the resistance level tested at the start of the North American session near the 100-hour MA and the 38.2% of the range since the mid-May high. Both of those levels come in at 1.3722 currently.

As the day comes, the traders will watch the 1.3722 is a barometer for "more bullish above" or "more bearish below".

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

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