The high today stalled at the 100 hour MA
The USDCAD is down testing the 100 and 200 bar MA on the 5 minute chart at the 1.3055-588 level (see yellow area in the chart below)l. Buyers are leaning on the test.
Speaking of leaning, at the highs today, the 100 hour MA (see blue line on the hourly chart below) stalled the rally (at 1.3106 area). At the same level, the 100 bar MA on the 4-hour chart was also at the same level That was enough to turn the buyers to sellers.
Looking at the hourly chart below, the low just reached recent swing lows and highs from earlier today.and Friday. Hold the levels and the sellers may turn around and start to buy again.
Traders leaned against resistance above, and are now trying to lean against support on the 5-minute and hourly chart. Key test.