Trend line at 1.4004 (and rising)
The USDCAD has moved up to test the floor/ceiling area (see green numbered circles) at 1.3076-80. The earlier high for the day reaches 1.3080. The current hourly bar extended to 1.4075 and reversed lower.
On the downside, the old swing levels comes in at 1.4008 to 1.4018. Below that the lower trend line (see red numbered circles) at 1.4004 will be eyed. There have been 4 points on that line now.
Traders are confining the range as they wait for some news or momentum pop (one way or the other). On a break, there is a chance that the market just fizzles and fails. Nevertheless, it is important to respect the breaks - just look for the momentum.
