USDCAD has formed a very promising bottom formation around 1.32 and is bouncing towards 1.33 as expected. Next targets are at 1.3358 and 1.3425 as long as price is above 1.32.
Blue line - bearish divergence
Red line - resistance (broken)
Horizontal red lines - targets
Green line - expected path
USDCAD I believe has made a meaningful bottom at 1.32 and we should expect price to continue higher above 1.33. The RSI has been making glaring bullish divergence warning signs. Price has also broken above recent lower high strengthening our bullish scenario.
