The low today stalled at swing area
Looking at the hourly chart of the USDCAD, the price today continued the move lower started on Friday. The fall today reached a low at 1.2742. That low tested a lower swing area in the 1.2741-49 area, and the price bounced. Risk was defined and limited.
The price off the low did has bounced back toward the 200 and 100 hour MA and another swing area in the 1.28025 to 1.28134 area.
Sellers should lean against the level on a test with stops on a break above the area.
