Tests 38.2% of the move down from 2016 high
The USDCAD is trading at the highes level of the day/the highest level of the week, and the highest level since mid-March.
The pair is testing the 38.2% retracement of the moved down from the January 2016 high to the May 2016 low. That level comes in at 1.33116 and the high price dress traded at 1.33121. Sellers are leaning against the level on the first look.