USDCAD tests 200 day MA at 1.3336. 50% at 1.33496. Key test.

Key area

The USDCAD is moving to new session highs as oil continues it's slide to session lows (low for the day is $42.49. The price is trading at $42.56 now).

The pair is testing the 200 day MA at 1.3336 and the 50% retracement at 1.33496. This should be a key resistance area and should attract some sellers.

What about oil?

Looking at the continuous crude oil chart, the contract is testing the $42.20-55 area. These were the lows from back in September and November 2016. If it holds, it may help to turn the USDCAD around as well.