USDCAD also move above a swing area at 1.30955 to 1.31157
The USDCAD has broken higher. The move was triggered with more buying above its 200 hour moving average (green line) and saw additional buying on the break above the swing area defined by recent highs and lows (up to 1.31157 - see red numbered circles).
More recently, a topside trend line was broken at 1.3132. The next target comes in at the 50% retracement 1.31583.
Traders look for more upside would want to see in a corrective move back toward the 1.31157 to hold support (risk for longs). A move back into that swing area would likely spoil the bullish party today.
