The USDCAD pair is currently on the upper limit of its long-term bearish channel and formed a double top when touching it, yesterday. In terms of technical indicators, we are currently on a major resistance on the RSI which accredits the hypothesis of a bearish reversal on the pair. Investors can thus short the pair on these levels with a protective stop placed above the last highs.
Direction: Bearish
Entry: 1.0288
Stop-loss: 1.0360
Hold the position
