Ups and downs in the pair
The USDCAD moved higher earlier and once again tried to move above the 200 hour MA (green line). Like Tuesday, the break higher failed, and the price has now retreated below both the 2-200 hour MA and the 100 hour MA at 1.31652 (blue line).
The low just moved to the close from yesterday at 1.3150. The 200 day MA is also being tested at 1.3152. The area is a bias area for the pair. Stay above and the bulls maintain some control. Move below and it is more bearish.
The ups and downs continue for the pair.
PS we are seeing a modest bounce back toward the 100 hour MA after the prior day closing level held at 1.3150 (and the 200 day MA held as well).