USDCAD moves up to test the 100 and 200 hour MAs. Backs off.

The MAs come in at 1.29844 and 1.29963. High reaches 1.29936 and backs off.

The USDCAD has moved higher today with the general USD move higher, but the rally higher has reached to the 200 and 100 hour MAs and put the brakes on. Those MAs come in at 1.29844 and 1.29963 respectively. Buyers pushed up to a 1.29936 - between the levels - and took profit/sold.

This is the typical reaction for the risk focused traders. If the price were to go above, you can expect to see that selling bias against the area, to tilt more to the upside.