For the bulls to take more control, the price needs to get above (and stay above) that MA level.
The USDCAD moved lower on the dollar selling the Asian session and in the process tested - and traded above and below - the 100 hour MA in the volatile trading.
In the London session, the selling dried up and the buyers took more control, moving higher and away from the 100 hour moving average (blue line currently at 1.29852). That move higher took the price back above the highs from last week at 1.3004-08, and stretched up to the next key target at the falling 200 hour moving average (green line currently at 1.30232). Sellers leaned against the level on the 1st test. The price has rotated back down toward the swing highs from last week area (see yellow area).
There is a little battle going on. The buyers are making play. However they still need to get and stay above the 200 hour moving average (and the high from yesterday at 1.3029) to solicit more bullish potential. A break above will look toward the 38.2% retracement 1.30385 and above that the 50% retracement 1.30656.
