USDCAD stays below the 100 hour MA, and above the 100 day MA.

MAs are wild in trading today. Looking for a break outside the levels.

Yesterday the USDCAD move higher and cracked above its 200 hour MA (green line in the chart below). However, a swing area at the 1.30386 was looming just above that MA. The price momentum stalled,and sellers took the price back below the 100 hour MA (blue line at 1.3003 currently).

Today, that 100 hour MA continued as the ceiling to lean against in the Asian session. The price started to move lower and in the European session, there was more selling.

That run stalled at 1.29614, which was just above the 100 day MA at 1.29578. Key level. Buyers respected the level and pushed the price back higher.

So the theme for the day is resistance at the 100 hour MA and support at the 100 day MA.

Overall, the pair has a lot of up and down of late. So respect the "markets" wishes and look for those levels and clues from the technical levels. At some point, the price will break (either below the 100 day MA or above the 100 hour MA, 200 hour MA and swing level at 1.30386), but until then, look for the technical levels to help define the range.