USD/CAD falls as dollar eases a little and oil prices recover from the lows
The pair is back down to a low of 1.4129 and is nearing a test of the 100-hour MA (red line) @ 1.4128 - the level which held on a few occasions already this week.
A break below will see sellers break the current near-term bullish bias, and look towards the 200-hour MA (blue line) next potentially.
Oil prices are recovering off the lows yesterday, with WTI now back up near $16 and that is also helping to breathe a little more relief in stocks ahead of European trading.
US futures are now up by around 0.1%, paring earlier losses.
In turn, that is also keeping the dollar a little weaker. The level above, alongside some other key levels like in AUD/USD will be a key spot to watch in the near-term for risk and dollar sentiment in the sessions ahead.
