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The USDCAD is higher on the day but remains below the 100 hour MA
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The decline also pushed through the mid-July low near 1.4000, reaching a session low of 1.3990.
Friday's trading saw the pair rebound before those gains faded, with the price reversing lower and closing back near the 1.4000 level.
However, buyers have so far been unable to reclaim the falling 100-hour moving average, currently at 1.4051.
To improve the short-term outlook, buyers need to move above that level and then push through the 200-hour moving average at 1.40709.
Support is holding near 1.4000, while resistance is capped by the falling 100-hour moving average at 1.4051.