USDCAD: Aiming to Buy on Trend Line Break
USDCAD positioning is essentially unchanged from last week, with prices still consolidating in a narrow range between 0.9198 and 1.0053. Early signs of positive RSI divergence hint a move higher may be brewing however. We will look for a daily close above the range top, a move that would also constitute a break of falling trend line resistance set from November, to trigger a long position.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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