USDCAD Retest or Reverse?!

USDCAD has been strongly bullish with making a higher high and fixing above the yellow zone.

Currently, price is retesting the yellow support level and we should wait to see if there is any upside push or not.

If price doesn’t break the yellow zone to the downside and closes a bullish candle above the high of the last 4H candle, we can expect a growth to the red resistance zone, and if price breaks this zone to the upside and could make a higher high, we can expect more rise to 1.2848

On the other hand, if price breaks the yellow zone to the downside and closes a bearish candle below this level, we expect a drop for USDCAD around 1.2670 and 1.2645