The USDCAD today fell lower right off the daily 21 ema as USD crude oil production fell short of expectation. We had earlier rejection signals in the 1 hour off the 365 ema. We are still waiting for a break of our 1.366 support area, and we could look for any retracement price action signals in the hourly to resume the down trend. I have a feeling that we might make a false break of support and a weekly close above 1.366, which would then in turn give us a weekly reversal price action pattern, but we still have a few days till the end of the week, so lets not count on that just yet.
Price respecting the 21 ema, waiting for break of support
We had nice rejection signals off the 365 ema which is the daily 21 ema on a smaller time frame
Price respected the 21 ema, looking for the top of the range.