The price of USDCAD is extending to new session highs, and also moving above swing area resistance up at 1.38033. Going back to April, the price has been able to stay below that level and waffle back-and-forth between 1.3589 on the downside and 1.38033 on the top side.
Getting above that level now will have traders looking toward the 2024 high up at 1.38448.
Buyers are making a play and taking more control on the breakout. Can they keep that momentum going?
This article was written by Greg Michalowski at www.forexlive.com. Source