The USD/CAD is visiting its 55 period Exponential Moving Average on the daily chart.

The US Dollar has been gaining ground versus the Canadian Dollar and it has reached the 55 period EMA on the daily chart as shown below. A little bit above the 55 EMA we also have the 200 period Exponential Moving Average on the 4 hour chart around the 1.1027 level. This EMA confluence on different timeframes is what is holding the price at the moment around that zone.

We have not seen a significant bounce to the downside from this level and the 1.1000 has become its most important support. If the price does break above the 1.1027 level, then we should wait for a pullback to this same area for a possible long entry. To the upside, its next resistance would be the 1.1100 level.