USDCAD breaks out of wedge, but faces tough resistance ahead
The Loony pushed through wedge-top/zone resistance confluence overnight, on back of weaker oil and all round stronger USD. Pair has attempted multiple bullish breakouts in the past few months, but each run has led to disappointment - will this time be different? Bulls will be looking to target the resistance zone which stretches from 1.32 - 1.33. Pair will find buyers around the former support zone/broken wedge top. A breach of yesterday's lows would invalidate and put focus back on the wedge bottom above 1.28.
