Possible Buy Opportunity on USDCAD

UsdCad is an interesting pair to analyze. On the long-term, price has had a bullish push away from the monthly support level, while creating some bullish market structure on the short-term timeframes.

Looking at the 4H, we could notice that price broke and retraced back to a daily support level. This level seems to be acting as support for the time being, as price is finding difficulty to drop below. Scoping into the hourly timeframe, it looks like we've created a 1H resistance level of interest. If we are able to break this level and retrace back with bullish rejection, I'll be looking for longs.