Pair looks to test 100 day MA
The USDCAD is moving lower as oil moves higher. The price of oil has moved to a new day high at $43.85 area (currently at $43.66) The low reached $41.10.
The move lower has the price approaching the 100 day MA at the 1.2943 level. There should be some support on the test of the line (at least on the first look).
Looking at the 5-minute chart, the price has broken below trend line support. The underside of the trend line will be eyed as resistance now.
