USDCAD Technicals

USDCAD Daily Chart

Waiting on this pair to reach the outer trendline for a potential 3rd drive rejection. We have a few areas of confluence to look for potential short trades on this pair in the highlighted zone.

- 1.32500 Key level

- 3rd drive into our weekly bearish trendline

- 78.6% weekly fibonacci retracement after putting in a new structure low

Will be monitoring price action when we reach the highlighted zone for reversal signals as well as keeping an eye on oil.

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