USDCAD has failed twice just below 1.36 and has thus formed a double top. We are currently back below the 55 week moving average and below the rising trendline. If the pair stays below the double top neckline at 1.3082 on a weekly close basis, it will indicate a short term move down to 1.2575 Beyond the near term we have a decent gap to the 200 week moving average where a longer term trendline also comes in around 1.20 The rise in the Oil price, which we expect will continue this year, will also play an important role… (full story)