USDCAD is testing an important resistance after bouncing off support
USDCAD is testing an important resistance 1.3720 for a breakout higher. A daily close below 1.3500 is required for the downside continuation. A break above 1.3720 will be valid for a high probability of short entry. If we get a breakout here we could see an extension higher and a test of 1.3900 falling trendline for the upside extension to 1.4200.
Note – Look for the long trade entries with the stop loss below 1.3640 upon a break above 1.3720
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