1.3454 stalls the fall

The USDCAD fell to a low of 1.3455. That dovetailed with a swing level on the hourly chart going back to April 3rd. The area was a ceiling in early April. ON April 19th, the level was broken. The price based against the level (red circles 3, 4 and 5) but did fall below and the 100 hour MA on April 24th. That break failed, however, and the price has been above ever since that day.

Today, the level was tested and held. Make the lows, the red circle 6 in the chart. Traders are leaning.

On the topside now, the 1.3507 will be eyed. That is the 50% of the move up from May 13th and the high for the day.