The USDCAD has moved higher in trading today but the price action is up-and-down. Technically, the price is back above the lows from February 25, March 6 and March 26 at 1.4238. That will be a short term support target. If that level can hold support, the buyers can push higher.
On the topside, the pair has a bunch of overhead resistance defined by moving averages. The 100 day MA is at 1.4282. The 100 bar MA on the 4-hour chart is at 1.42985 and the 200 bar moving average on the 4-hour chart is at 1.43238. All those moving averages need to be broken to give the buyers more runway for further upside momentum.
