USDCAD moved lower to the London session and fell below the 100-hour moving average to 1.25681 (blue line in the table below). The price of more than four separate hourly bands traded below the moving average, but could not move much below (or reach the midpoint of 50% of the July trading area of 1.25543). The sellers had their own shot (4 shots). They got caught.
The price has now risen and is looking at the test, which has been the highest in the last 5+ trading days. This level is 1.2606. Also, the 200-day moving average is at that level. Slightly higher is the 200-hour moving average of 1.26167.
All levels are in the game and should be broken if buyers want more control.
The trading range of pairs with about 81 points in the last 5+ trading days is very narrow. If we look at the calendar weeks, the narrowest trading range in 2021 was around 110 points.
Something has to be given. Today (ie today) sellers had their shot. Buyers are trying to take pictures, but they have work to do.