The 1.3148 level is home to the 100 day MA and recent swing low/swing highs
The USDCAD moved to a session low of 1.3154. That got within about 6 pips of the 200 day MA and swing levels from last week. On Wednesday, the low reached 1.3148. On Friday, that level was broken and retested before moving lower yesterday.
The sharp fall in crude oil yesterday, led to a rotation back above that level, then the 100 hour MA, the 200 hour MA, but stalled ahead of the 100 day MA at 1.3244.
Today, the dollar selling has seen the gains from yesterday (and today) reversed and the price return back toward the afformentioned 200 day MA at 1.31484.
The 1.31484 will be a level to eye on the downside going forward. It should be a tough nut to crack.
On the topside the 100 hour MA at 1.31829 will be a level to eye. The price has traded above and below the level in the NA afternoon session, but it still should be a barometer for the bulls/bears.