It will take a move below the 1.3570 level

The USDCAD is mired in a narrow 24 pip trading range with lots of up and down hourly bars. 

Looking at the hourly chart, the pair has stayed (on a closing basis) above the 100 and 200 hour MAs (blue and green lines). Also near the MAs sits the 50% retracement. The combination of the levels are from 1.3571 to 1.37729.  Move and stay below is needed to tilt the intraday bias more to the downside.  A break would target 1.35558 and then the low from Monday at 1.3535. 

Stay above and traders will look toward 1.3590 and then the 1.3600 level (61.8% and the natural target).  

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