The USDCAD has a long term inverted head and shoulder’s pattern.
The USDCAD has a longer term inverted head and shoulder’s pattern in play. The 4hr RSI is overbought, so dips back below the 1.3400 level may be a better placement for fresh longs. But the BOC dovishness may keep the USDCAD bid, especially if crude oil dips back below the $55 level.
Blake Morrow
