The USDCAD runs out of steam and backtracks toward a cluster of support

The USDCAD bottomed last Friday at 1.37315 before gapping higher over the weekend after trade talks between the U.S. and Canada soured. The deterioration in trade relations helped fuel upside momentum, taking the pair back above the 100-hour moving average, the 200-day moving average, and the 200-hour moving average. The advance continued yesterday, with the price also breaking above the 38.2%…