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USD/CAD very close to 1.3959 this morning

The further gains for the dollar so far this week are now pushing the Pound and the Euro to fresh session lows and that is symptomatic of dollar gains across the board. The USD/CAD topped out twice at exactly 1.3959 the week before last and last week too. It was noted here; that in order two confirm a double top at that level, it would need to fall below 1.3822. Well, it has not done that and this further gain for the wider dollar has pushed the USD/CAD to within striking distance of that 1.3959 level once more. The USD/CAD came a little closer to that yesterday, but could not take it out and later closed in the US at 1.3925. Well, this morning the US dollar has lifted again and come close to 1.3959. The high seen so far has been set at 1.3958. So, it is on the balance as to whether, or not this level might crack. At the same time, it is not clear as to what might happen thereafter, if it does. There could be stops above 1.3959 for sure, but the price action will probably let us know if that is the case. The USD/CAD is currently trading at 1.3956

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