USDCAD Technicals: The USDCAD based earlier in the day at the 100 bar MA

The USDCAD spent yesterday capped by a confluence of resistance—its 100-day moving average at 1.37738 and the 100-bar moving average on the 4-hour chart at 1.37516. In early trading today, sellers again leaned on the lower 4-hour average, but buyers stepped in, pushing the pair higher .Stronger-than-expected PPI data fueled a breakout above the 100-day moving average, triggering a run that took price beyond this week’s prior high at 1.3805.