With a strong bearish rally on OIL yesterday, CAD pairs are nicely reacting.
USDCAD formed a high momentum bullish candle on a daily. Approaching a daily falling trend line, the price is currently forming an ascending triangle (classic bullish accumulation pattern).
To catch the next swing move, wait for a bullish breakout of 1.25 horizontal resistance of the triangle (daily candle close above). Then buy on a retest.
Next supports: 1.2645 1.2735
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