USD/CAD Price Analysis: Bulls are grazing on the bearish correction USDCAD Technical Analysis
Trendline support could well be respected leading to a bullish continuation.
Zooming in, we can see that the price has rallied to make new highs only to correct back into the rally ina 50% mean reversion. This could encourage the bulls to reengage at a discount with the price respecting the trendline support. From a lower time frame perspective, the price will need to clear the recent highs. This will mark a new bullish structure for the bulls to lean against in positioning for higher highs to come. On the other hand, a break of 1.3570-50 would be a bearish development.
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