Has old ceiling area to get above....

The USDCAD is higher again today, and trades at the 1.3739-45 area which was a ceiling prior to the push higher last week (which stalled at a topside trend line). That peak sent the price down to test the 38.2% where the retracement stalled the fall. Key test.

On the downside, the 100 hour MA at 1.37128 will be a level to get back below now. Yesterday, the price moved above the MA line twice but failed twice. If the buyers are to keep the fire burning that will be a level to hold on a correction.

Oil prices are lower today (-$0.40) and tests the $46.00 area. Earlier today, building permits plunged by -5.8% vs estimates of 5.5%. Multi-family permits plunged 20.9% for the month. It tends to be volatile, but the rocket higher in prices may have builders wary of oversupply.