USDCAD: Price continues to consolidate in tight range

Following up from last week analysis, price did continue to consolidate the entire last week. However, we do have a valid double top divergence setup last week. This gives us a stronger sentiment that there is a high potential that price may break below this triangle pattern.

Should price manage to break below the 1.2380 level, we can potentially see price reaching the 1.2045 region.

I would love to hear your opinion, feel free to comment, agree or disagree.

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