Manufacturing sales kicked the pair lower
The USDCAD is down testing last week’s lows at 1.2974-798. The low price for the day reached 1.29745 and is seeing a bounce back higher.
Buyers are likely leaning against the area with stops on a break below.
Earlier in the day the better than expected Manufacturing sales (+0.9% vs 0.6% exp.). sent the price below the 100 hour MA and trend line on the hourly chart. That MA is now resistance on a rally.