The picture remains the same. The technical levels are tested.

This is a familiar picture for the USDCAD. The yellow areas outline where the market has a number of swing lows/highs. The market is testing the lower yellow area on the correction off the low today (between 1.31279 and 1.31466). The high correction price has reached 1.3142.

Also in the area are a number of MAs including the 100 and 200 hour moving averages, and the 100 bar moving average on the 4-our chart. They come in between 1.3139 and 1.3147.

This is a level where you should find sellers, with stops on a move above the 1.3147 level.

PS Crude oil futures are trading at $48.14 currently. This is down $.11 or -0.25%. The high price today came in at $48.87 while the low has extended to $47.78.