100 hour MA at 1.2568
With the price of oil moving back to the upside, the USDCAD has moved lower. The pair is testing/breaking below the 100 hour MA at 1.25681. The price has also moved below a lower trend line on the hourly chart below (at 1.25734 currently). The next target is the midpoint of the move down from the March 5 high (midpoint of the month’s trading range). A swing area comes between 1.2542 to 1.25474.