I would like to believe that USDCAD
is heading lower. The problem is price action is sitting on a short term trendline
(green line) and also right smack in the middle of the longer term downtrend(blue line). I am bearish
on this pair but wouldn't mind a pullback to add on my short or a restest of 0.9750 in the coming weeks.
The next strong resistance is around 0.9885 in my opinion.