USDCAD has been pushing up from the level 1.29950 for several days now, creating bullish price action as it moves (higher highs/higher lows). The most recent move wicked above a previous high/area of resistance before pulling back to our 50% retracement level and forming a double bottom. From this, I anticipate the pair to push higher if what we can see now is a retest of the neckline. However, we must be cautious that the pair does not push down and take out the double bottom to create further bearish movement.
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