Crude oil prices are higher
The USDCAD has moved higher and lower in trading today. Oil price are up again (by 1.3%) and although the price is lower, there is some support that is stalling the fall.
The 1.3252-62 is an area where there were swing lows/high going back to early December (see red circles). Just below that is the 100 day MA at 1.3244. The price of the USDCAD has not been below that MA line since FOMC day on December 14.
On the topside, the pair seems to finding resistance against the floor from Dec 15/16 at the 1.3317 level. The last corrective high stall just ahead of that old floor (which now may be a ceiling).
So the battle is on, in the up and down day. Sellers are a little more in control, but key support looms and may attract a profit taking bid before employment data tomorrow in both the US and in Canada.