USDCAD: Testing the 4H MA200. Rejection ahead?

USDCAD made a perfect rejection on our last signal exactly at the top of the twelve month Channel Up. You can see this at the bottom of the analysis. The price turned bullish however lately on the short term and the 4H timeframe (RSI = 60.972, MACD = 0.001, ADX = 26.230) as it rebounded at the bottom of the prevailing Channel Down that emerged. At the momemnt it is testing the 4H MA1200.

As long as the the price is trading inside the Channel Down, this is a sell opportunity on a 2-3 week stretch (TP = 1.32500).

Prior idea:


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