USD/CAD in Transition
The intraday USD/CAD has been trending lower but as Asia opens for the week, the 1.0300 has been tested and broken to the upside showing that buyers are stepping up. The 60 minute chart has a Continuation
Falling Wedge that has formed with a weak Initial Trend. Because of the slowing downtrend, keep an eye on the buying support to rally the USD/CAD up through the downtrend line resistance (R) of the pattern as
the 1.0300 could establish support. The breakout level on the 60 minute chart is waiting near the 1.0360 level.
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