100 and 200 hour MA are resistance areas. Good place to sell.
The earlier speculation was that Canada could possibly be exempt from tariffs. That sent the CAD higher (the USDCAD lower).
Then there was the headlines that the White House was said to discuss new Canada tariffs. That and lower oil (higher inventories) sent the USDCAD going the other way.
That "other way" has now taken the price back toward where it all started. That place is the 100 and 200 hour MAs at the 1.29445-554 area (see blue and green lines above).
The lower of the two MAs are being tested (the 100 hour MA). I expect that sellers will lean against both MAs now as risk can be defined and limited. The risk is a move above the 200 hour MA.
Good place to sell.