USDCAD moves back down below 100 hour MA on Poloz comments

Tests trend line on hourly.

The USDCAD has reversed back down to test the lower trend line at 1.2837 on the comments from Poloz.

Getting below that trend line is a bearish step toward the 200 hour MA, the 200 bar MA on the 4-hour and the swing lows that define the "red box" (see prior post).

Cautious NAFTA comments are battling with Poloz comments now which is leading to the chop, but hopefully, the technicals will help define the story. The pair needs to get out of the Red Box at some point. Right now, the lower trend line is holding the line.