USD/CAD bulls continue to get thwarted at the 200-day moving average. That’s been the case for the past four weeks now, with last week finishing as a doji after a failed resistance test at 1.3538. Sellers have had an open door to push for a reversal for much of that time but, so far, they’ve been unable to make any headway below support running from 1.3338 up to 1.3387. The pair broke-out above this zone in the first week of the year and, so far, bulls have been able to hold the lows above. There’s a bit of reference for deeper support below that zone which could help to explain the defense that we’ve seen so far, ... (full story)