Tests 100 hour MA
The USDCAD has recouped a good chunk of the declines after the better than expected data this morning. The pair currently tests the 100 hour MA at the 1.27042 level. There should be some pause against the level, but we are getting into Friday afternoon trading. So... you never know...
Technically, earlier today the pair did break below the lows from yesterday and Tuesday and failed (see chart above). The failure gave buyers a reason to step in and in the last few hours has seen the price of Crude oil wander back lower as well (trades at $43.89 currently - the high extended to $44.45).
