Did not stall much against the dual level
The USDCAD has moved above both the 200 hour MA (green line at 1.2819) and the 50% retracement of the move down from the March high in trading today.
Those two tools are within 6 -7 pips of each other at 1.2819 and 1.28256 respectively.
Normally, when those two tools are near each, the market stalls.
Today, the area was broken, the price did retrace back to the 200 hour MA, held support and moved to a new high of 1.2849. We currently trade at 1.2843. That's bullish. If there were sellers against the pair, they should be buying (and may have just covered and took the small loss).
Staying above those levels keeps the bulls in control. A move back below, might give traders cause for pause, but until then, you can't ignore the break(s).
