USDCAD has been consolidating below major trend line since 11 Jan. Looks like rising wedge is forming and potential short opportunities arises as it breaks below the wedge.
There is a sharp price rejection below 1.30 (olive oval) in the early hours of breaking below major trend line, signaling short-term bulls taking over for a cheap buy. Let's see how the next few days plays out esp days before new POTUS takes over.
It could go either side, but downside seems more attractive to me given the break below major trend line and rising wedge formation.