USD/CAD touches above 100-day moving average

The US dollar is strong across the commodity bloc

The commodity currencies are struggling as the US dollar catches a broad bid. That’s helped to push USD/CAD to a fresh high since mid-August.

The latest push helped the pair above the August 31 high and above the 100-day moving average, two levels that have been closely watched.

The problem is that the Bank of Canada decision is tomorrow so it’s a dangerous game to be relying on technicals.

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