100 bar MA on the 4-hour chart tested
The USDCAD has moved to a new session low and in the process has moved to a key MA target at the 200 bar MA on the 4-hour chart.
Looking back to early December, the price stalled near that MA level and moved higher (there was a bar that close below right before the run higher but that move failed). Prior to that failed break, you have to go all the way back to October 24th where there was another 1 bar failed break.
If the level holds, a move back above the 1.34117 would be eyed to confirm the bottom. If broken with momentum, despite the failed breaks on the last two looks, traders still need to be respectful of the break. Give it some room (it is an attempt to buy a low), but don't let it run far either.