1.35-1.36 is a key weekly resistance zone
Last week USDCAD confirmed the bullish break out of the daily trading channel that it was trading inside since May.
1.33 was the critical support zone that included the top of the channel and the Fast MA line and indeed it drove the price to new high.
Now 1.35-1.355 is the new focus zone - Re-testing broken uptrend line and completing AB=CD pattern can send USDCAD back to 1.34 and 1.33
You can read about this scenario and others in this week's newsletter (link in signature)
1.33 was the critical support zone that included the top of the channel and the Fast MA line and indeed it drove the price to new high.
Now 1.35-1.355 is the new focus zone - Re-testing broken uptrend line and completing AB=CD pattern can send USDCAD back to 1.34 and 1.33
You can read about this scenario and others in this week's newsletter (link in signature)