The USDCAD moved lower earlier in the day, but has seen a run back to the upside. The pair is now testing the falling 100 hour MA at 1.3708. It would take a move above that MA and the higher 200 hour MA at 1.3724 to increase the bullish bias once again. Absent that, and the sellers are still “in play” despite the run-up seen today.
USDCAD runs higher but finds some stall vs the 100 hour MA
This article was written by Greg Michalowski at www.forexlive.com. Source