USDCAD moves to the highest level since November 2022

The USDCAD USD/CAD The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh Read this Term 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.