The BOC rate decision pushed the USDCAD above 1.3500, but was it enough?

The USDCAD rallied above the 1.3500 level following the BOC rate decision, and the pair looks to have broke out. However, the lack of ability to close above the 1.3520 may be just short of a breakout. Horizontally AND the multi year downtrend line as well. RSI is also coiled up, so by the end of the week if we close above the 1.3550 level I think it will be safe to say that was a breakout.

USDCAD Daily Chart

Blake Morrow