The USDCAD fell in the early North American session but found support buyers near the converged 100/200 hour MAs. Both those MAs came in near the natural support at 1.3500 as well.
The high today also tested a technical area. For it, the swing area between 1.3526 to 1.35428 stalled the rally. Within that range is the 50% midpoint of the move down from the October high to the December low. That level comes in at 1.35378.
In the video, I outline the key levels in play in detail and explain the “why’s” for the importance.
This article was written by Greg Michalowski at www.forexlive.com. Source