USD buying is helping
The USDCAD has moved higher with the higher dollar over the last hour or so.
The move higher has taken the price above a topside trend line at 1.3015. That trend line stalled the rally earlier in the day and also in trading yesterday.
The move above increases the bullish bias for the pair.
On the downside today, the NY corrective low could not reach the 100 hour MA (blue line in the chart above). Yesterday, that MA line stalled the fall. The low also stalled just ahead of the close from yesterday at 1.2978.