The USDCAD has seen up and down volatility after the US CPI data, but the buyers are trying to hold support against the 100 hour MA. That has the tilt more in favor of the buyers. The 100 hour MA comes in at 1.3370.
Having said that, the price still needs to get and stay above the 50% of the December trading range at 1.3397. Above that the high swing level at 1.3714 would add to the bullish bias.
The video above, outlines the technicals in play and show what needs to be done for the buyers to keep and increase control.
This article was written by Greg Michalowski at www.forexlive.com. Source