The Loonie broke the weekly support and we saw a freefall below 1.30.
Really cannot see the USDCAD breaking back above 1.30 now with the DXY crumbling and oil prices climbing.
The only question is where the pullback ends.
I've highlighted a 1hr zone of interest in yellow, where price stagnated creating a potential shelf for price to retest.
However, should this break, we should see a retest of the weekly support turned resistance before a further impulse.
Remember, even though we expect a slight push up, we trade with the trend!
Really cannot see the USDCAD breaking back above 1.30 now with the DXY crumbling and oil prices climbing.
The only question is where the pullback ends.
I've highlighted a 1hr zone of interest in yellow, where price stagnated creating a potential shelf for price to retest.
However, should this break, we should see a retest of the weekly support turned resistance before a further impulse.
Remember, even though we expect a slight push up, we trade with the trend!