FXStreet reports that according to Credit Suisse, USD/CAD has seen a reversal back higher within the range, with the market posting a small bullish ‘reversal day’, to suggest further in-range strength.

“We see resistance initially at 1.4065, then 1.4078, ahead of 1.4173. Removal of here would negate the previous bearish ‘outside day’ and turn the short-term risk back higher, with resistance seen back at the upper end of the range at the April highs at 1.4262/65, where we would expect to see fresh sellers at first.” 

“Support moves initially at 1.4004, then 1.3976, ahead of 1.3856/51, which ideally continues to hold.”