USD/CAD outlook – Currently in a no man’s land
Despite the falling top formation it is too early to say the bulls have lost control. Only a daily close below the rising trend line would signal a top is in place at 1.3535 (Mar 9 high). The pair could then proceed to re-test 1.3124 (Jan 31 low).
On the other hand, only a daily close above the descending trend line would revive the bullish view.
On the other hand, only a daily close above the descending trend line would revive the bullish view.
