Breach of resistance line imminent by USDCAD

USDCAD is moving towards the resistance line of a Channel Up which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If USDCAD continues in its current trajectory, we can expect it to reach 1.3318 within the next 3 days.

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