Buyers lean on the retest of the 100 hour MA
The USDCAD opened the North American session near highs (high reached 1.41318). At the highs, the price was testing swing levels from April 15 and April 16. Admittendly, the price on April 16 did extend higher, but moved back below that level on April 16 too.
The fall has moved back down to test the 100 hour MA at 1.40382. Below that is the 50% retracement at 1.40181 and the 200 hour MA at 1.4003.
So far, the pair has been finding support near the 100 hour MA (the low has reached 1.40306 which is 8 or so pips below the 100 hour MA).
