USDCAD: Long Entry Sought as Resistance Gives Way
Strategy: Pending Long
USDCAD found support and bounced back above the falling trend line established from the swing high in mid-August, a boundary that has acted as both a significant upside and downside barrier over the past six months. Unfortunately, the move has not offered any attractive long entry opportunities from a risk/reward perspective, leaving us sidelined for the time being. Near-term resistance now stands in the 1.0718-57 congestion region.
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