The 100 and 200 hour MA is being ignored but trend lines are eyed
The USDCAD has moved lower as the price of oil has some upside relief on hopes for production cuts.
The price action today has still been up and down. The high price stalled ahead of a topside trend line (currently at 1.4231). On the downside, the pair has been testing a lower trend line over the last few hours. That trend line currently comes in at 1.4118 (and moving higher).
As mentioned the 100 and 200 hour moving averages are not doing much in the way of support or resistance. This is because the markets are unsure of the next move. The trend lines are more important for the directional bias.