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USD/CAD edges lower following technically negative close last night

It was a technically negative close for the USD/CAD last night at 1.3471. That US close was below its 50 and 200 day moving averages (now in place at 1.3477 and 1.3479 respectively). The push higher in oil prices so far this morning has added some further downside pressure on the USD/CAD too. The low seen a moment ago was set at 1.3463, The low seen last week was set at 1.3420 on Friday. However, the US dollar rebounded from there and the close on Friday was above both those moving averages, at 1.3483. So, given the price action today and the technically negative close last night, it looks like 1.3420 is the next level on the radar right now. The USD/CAD is currently trading at 1.3468 

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