DXY is gaining strength. crossover is . 55 day MA is above 200 day MA which too is . 200 day MA is in line with the rising .
If the bounce sustains, long-term target would be 1.05-1.06 range which has acted as resistance almost 3-5 times on the weekly. if the trade works I will sell 3/4th of my position in the 1.04-1.05 zone and leave the trailer for possible 1.06 breakout in the long term.
CAD gains if BoC raises rates (hasn't shown any intentions) or when (especially Crude Oil ) rises. These two events would negate the trade.
Sell most of the position on sustained close below the 200 day MA and if the price breaks the .