USDCAD Pullback pending?

٥ يوليو ٢٠١٩

The loonie is currently showing signs of exhaustion after an extended drop towards the 1.30400. Price action has repeatedly spiked towards the downside only to suddenly reverse. Looking for a possible breakout from the descending wedge formation to retest the trendline resistance. We may see further upside if the bulls manage to break through this trendline. With NFP in a few hours price action may once again spike to the downside before a larger reversal or continue to selloff into 1.2900.