Strategy: Flat
USDCAD put in a bullish Three Inside Up candlestick pattern at the bottom of a falling channel set from May’s swing top, with prices racing higher to test the formation’s upper boundary. A clear break above this juncture exposes support-turned-resistance at a rising trend established from the mid-April low, now at 1.0537. Positioning does not offer an attractive trading opportunity and we will remain on the sidelines for now.
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