Trades near closing level of 1.3007
The USDCAD tried to extend higher in trading today, but when the price got close to the falling 100 hour moving average (blue line currently at 1.30513), the sellers leaned and the price started to wander back to the downside.
It will take a move above the falling 100 hour moving average to tilt the bias more to the upside.
Ahead of that is the swing area between 1.30194 to 1.3030.
Sellers remain in control. Yes, the price is off the low, but the corrective move still remains well contained.