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USD/CAD backs off from new 2024 high at 1.3606

Much earlier today, an update here noted the USD/CAD pressing higher and close to rising to a new 2024 high above 1.3585. Well, since that update, the USD/CAD has risen to a new 2024 high above 1.36. It is likely that the break above 1.3585 kicked some system based buying models into life and that helped it to extend to a new 2024 high at 1.3606. However, since then the US dollar has backed off and now it has fallen back below that 1.3585 level, currently trading at 1.3572
 

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