USD/CAD Price Analysis: Trades above 1.27, looks north

• USD/CAD's daily chart show dip demand below 1.27. 
• The 4-hour chart MACD and RSI are biased bullish.

USD/CAD is currently trading mostly unchanged on the day near 1.2707, having hit a low of 1.2693 early Friday. 

The long-tails attached to the previous two daily candles indicate bear figure/bear failure below 1.27. 

The 4-hour chart MACD histogram, an indicator to gauge trend strength and trend changes, has crossed into bullish territory above zero. Meanwhile, the 4-hour chart Relative Strength Index has violated the descending trendline. 

As such, the pair looks set to the 50-day Simple Moving Average hurdle, currently at 1.2755. 

Daily chart

Trend: Bullish

Technical levels