Crude oil makes a new high. USDCAD moves lower

USDCAD falls below 100 day MA

Crude oil is moving to new 2015 highs and with it the USDCAD is breaking the 100 day MA. That level comes in at 1.2197. The 38.2% retracement was also broken at 1.2206. The breakout trend continues. The pair is in open water now.

The next targets are not until the 1.2113 to 1.2049 level (see chart below).