USDCAD traded towards the excessive of the buying and selling vary
The USDCAD is prolonged to a brand new session excessive, and within the course of is again testing the swing space between 1.36049 and 1.36269 (the purple quantity circles and yellow space on the chart above). The 61.8% retracement of the transfer down from the November 2023 hello can also be inside that space at 1.3623.
Total, the USDCAD has been in a unstable up and down vary with a modest upward bias (trendlines on the chart have the value inside a upward sloping channel). Being concerning the cluster of shifting averages can also be a tilt to the upside for the pair. Nevertheless, the value nonetheless must get above – and keep above – the excessive of the aforementioned swing space to extend the bullish bias.
