The high for the month is at 1.3466, but the 1.3438-43 is another key target
The USDCAD has a March high at 1.3466. On March 7th and March 8th, the price stalled near that level. Key target level for the bulls.
However there is a lower level of equal importance.
Looking at the hourly chart above, the 1.34386 to 1.34436 is home to a number of swing levels going back to March 7th. Since March 11, that area has been the top.
Today (and on Monday), the area has been tested. Do the sellers lean? Why not. Risk can be defined and risk can be limited. However a move above should solicit stops, with the focus back to the March highs.
