USDCAD, H4 USD/CAD pulls back from resistance on the 4H chart | A1 Trading Forex Analysis

USDCAD, H4

USD/CAD pulls back from resistance on the 4H chart which looks like the 200 SMA. Price is currently resting on support after US PMI reports better than expected. CAD's PMI came out as slightly better than expected as well. Traction gained on the USD is likely due to this news, but CAD still has more demand over the USD as inflation weakens the dollar.

- Frank