USDCAD breaks higher
The USDCAD has broken above the swing highs from February at 1.3663, and more recently above the swing highs from December up to 1.37025. The price currently trading 1.3723. The high price reach 1.37305. The break to the upside has taken the price to the highest level since early November. The high price in November 2022 is still 80 or so pips higher of 1.3806, but is the next upside target.
Buyers are making a play. The broken 61.8% retracement at 136.896 up to the swing highs from December at 137.025 is now the close risk defining level. Stay above is more bullish.