Oil prices higher.
The USDCAD has tumbled to fresh session lows. Oil prices have pushed higher in trading today - approaching $50 per barrel (high rose to $49.85). The current price is $49.65.
Technically, the pair fell below the 38.2% level at 1.2909 today and then the 200 bar MA on the 4-hour chart at 1.28791. The low stalled at the 50% retracement at the 1.2823 level. This also is near the swing low from May 17 at the 1.2836 level. The low extended to 1.28238.
Buyers are leaning against the risk defining level on the test so far. A move below will next target the 1.2785 area
