Forex technical analysis: USDCAD holds 100 hour MA on dip. Range compressed.

Not doing a lotThe USDCAD moved lower and stalled against the 100 hour MA (blue line in the chart below). That MA line currently comes in at 1.23104. Buyers leaned against the level (there should be stops below).

The move off the support has not really done much. There is a topside trend line at 1.2336. Prior swing lows/highs come in at 1.2335-41 area
Earlier in the London session the price did move above that area and trend line, but failed and reestablished the line as resistance.  
Like a number of currency pairs today, there is some reluctance to move too far.  At some point the buyers or sellers will make a play. It will need a push. That push has simply not been there.  So we sit.   Article Source

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