USDCAD – Limited upside. Reverse trend line resistance

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Monthly: We had an impulsive rally from the 2011 low (0.9407) to the 2016 high (of 1.4690). The correction lower found buyers close to the 50% pullback level of 1.2049. Mixed trading for the last 32 months looks to have formed a corrective channel. Trend line resistance is located at 1.3875. Trend line support at 1.1746 Weekly:  Broken out of the wedge formation to the downside. Reverse tre...


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