Moreover, OPEC refused to cut production despite of global glut.
Fundamental doesn't support Loonie currently.
Last week, 5 trading days is 5 stars on the chart. What does this reflect ?
That is the hesitation of traders. Obviously, FEAR is controlling them. It needs a strong catalyst to drive USDCAD through YEAR HIGH.
While USDollar bounced aggressively from 12 year high, clearly traders have right reason to don't dare drive USDCAD higher.
A pattern on the price action and indicator, and both are contacting the end point of pattern.
A breakout incoming.
In my opinion, I think USDCAD should break the year high and first test 1.3500
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