USDCAD potential long setup

I've spotted a demand zone for USDCAD on a H1 time frame chart. The demand level range is between 1.33687-1.33638 (very narrow, so pay attention to the spread). If the price retraces to this zone, I'll be considering a long position. My target is set at 1.3384, with a potential for a 2.9 R reward.
I plan to exit the trade if there's a 1 hour candle closing below the demand zone