Watching CADUSD for a breakout or rejection at this level

Keep an eye on $CADUSD around 0.71362. We've seen it bump up against that mark today, and it's near the high of the day's range. It's a pretty clear inflection point. If it can punch through and hold above, we might see some continuation. On the flip side, a solid rejection from here, especially if it starts to retrace back towards 0.7106, suggests this current leg up is running out of steam. I'm not making a call one way or another yet, just watching for confirmation. My bias is it likely stalls here given the general market sentiment but that can change fast.