You can say the high stalled at yesterday's high too
The price of the USDCAD reached the next target at the low from yesterday at 1.3362 and stalled. Double bottom at lows.
You can also (within a pip or two) say that the high today stalled at yesterday's high at 1.3429 area (the high yesterday reached 1.34277 while the high today reached 1.34295). So nearly identical ranges in the up and down market.
Dip buyers will want to see the price move back above the 1.3400 level to help the 'buy the dip' story (around the midpoint of the range and a swing area (see yellow area).
A break of the double bottom still has the May 22 low at 1.33536 as a target to get to and through.
For an earlier discussion on the technicals for the pair, CLICK HERE.
