Tests a higher "swingy type level"
The USDCAD has bounced off low after testing the 200 hour MA at 1.33546. The 200 hour MA has been a barometer recently (see green arrows in the chart below). Move below is more bearish. Move above is more bullish. The market has been in an up and down trading range with 1.3400 as a ceiling above. Below the 1.32966 (call it 1.3300) and the lows from April 9 and April 17 are other lower levels (on the wide).
The 1.3272-74 is sorta swingy type level to get above now (see red circles) There were some swing levels at the area, but honestly, the price has also moved freely above and below the level. The 100 and hour and 200 hour MA are more important to me as the price moves higher and lower.
On the topside, a trend line at 1.3384 is more important to me as a potential sell area on more upside.
Patient buyers and sellers would look to the 200 hour MA below. The trend line above at 1.3384.
