Trades at day lows

The USDCAD is trading at new day lows and approached the next target at the 100 hour MA at the 1.3123 level. The price has not traded below the 100 hour MA in that pair since September 8th. A move below will be more bearish.

The area the pair is in currently has some support reasons from prior highs and lows in addition to the MA line. So there should be a pause for cause. However, the failure above and the break of a pretty good trend line (although it was sticky at first) was more bearish.

WTI crude is trading back toward the highs for the day after tumbling to $43.80 area, the price is back up to $44.50. The high for the day extended to $44.21 earlier in up and down trading today. That is also helping the move higher in the CAD (lower USDCAD).