Surges higher on oil data.
The USDCAD has surged higher on the back of continued bearish oil data.
The pair is now up on the day at 1.2506. The 100 hour MA is at 1.2497. This should be now be support. The 38.2% at 1.25378 is the next target and being broken as I type. the 200 hour MA (green line) is the next upside target at the 1.2568 level. This is near a stall area from last Friday's trade.
At the lows today, the pair stalled at the recent swing lows (see 4 hour chart below).
