USDCAD is forming a Symmetrical triangle like pattern. Break out needed for direction. If breaking bearish out and closing below support at around 1.3320 a sell-off down to around 1.30 could be seen. However, there is support at around 1.3225 where the 200 daily SMA will add to that support. A bullish break out a move to 1.40 level i.e., around October peak is in the cards. Strong resistance at around 1.37. {chart} Medium term: USDCAD is in a correction phase. Underlying sentiment is bullish with all moving averages rising and RSI positive and no divergence. USDCAD seems likely to break bullish out of triangle ... (full story)