Hey
Intraday bias in USD/CAD stays on the upside at this point. Rebound from 1.2005 low is in progress for 1.2653 resistance. The break of medium term falling channel resistance is a sign of bullish trend reversal. Firm break of 1.2653 should confirm. However, downside, below 1.2421 minor support will turn intraday bias neutral first. But break of 1.2301 support is needed to indicate short term topping. Otherwise, further rally will remain in favor in case of retreat.
Intraday bias in USD/CAD stays on the upside at this point. Rebound from 1.2005 low is in progress for 1.2653 resistance. The break of medium term falling channel resistance is a sign of bullish trend reversal. Firm break of 1.2653 should confirm. However, downside, below 1.2421 minor support will turn intraday bias neutral first. But break of 1.2301 support is needed to indicate short term topping. Otherwise, further rally will remain in favor in case of retreat.