Price remains between channel trend lines
The USDCAD moved to a new week low/low going back to January 22 but could not maintain the break, nor reach the next target area at a lower channel trend line.
The price has seen a bounce higher with the pair looking back toward the broken 61.8% retracement at 1.26992 and the topside channel trend line at 1.27032.
Moves above those levels will turn the bias a little more to the upside with the highs from yesterday and today near 1.2711 and the falling 100 hour moving average 1.27224 as the next targets. The price will need to get above each in order to increase the bullish thoughts in traders.
