A tilt to the upside for the USDCAD
The USDCAD has coined its way above the 100/200 hour moving averages. The 100 hour moving average comes in at 1.2660. The 200 hour moving average comes in at 1.26733. That tilt the bias more to the upside after the sharp decline that saw the pair move back down to test the swing area (see lower yellow area).
More upside would have traders looking toward the 38.2% retracement of the move down. That level comes in at 1.27193.
