Oversold last week led to a strong support USDCAD 1.27636.
seems to be an interesting week, this day is above the oversold level, however seems to be run out of strength the US dollar , I think that before the end of the week approached the area 1.3000, with little chance of overcoming the resistance of 1.31000.
I can consider, if we dont have relevant information or something extraordinary happens before the talk of Yellen, the pair could maintain a sideways trend until Wednesday, and Thursday to Friday happen 2 things, reaffirming the uptrend or falling back to oversold level of the week last hoping Yellen still not give clues about its stance on the possible rate hike.
if the market is optimistic we could see the usdcad above 1.31000.
AFTER 2 WEEKS THIS SLOW LINE ABOVE THE LEVEL OF 50