Hi Traders. USDCAD has been in a relatively choppy market recently, if you look at it on a broader perspectives, market has been in a range bound condition since 2015.

Previous price attempted multiple times to break above 1.30 - 1.3030, on 14th July when price finally broke above but faced immediately failure plummeted back below 1.30.

From all these small pieces of information, it gives us a clue that probably sellers' are in control, so its best to avoid buying until the 1.30 key resistance is broken above.

Short-term wise, the only are where I'll be looking for selling opportunity is probably 1.2940 - 1.2950, apart from that there's really not much opportunities lying around as Price Action is messy.


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