Last updated: Friday, February 19, 2010
USDCAD has rebounded from familiar resistance-turned-support at 1.0415 and is trying to build momentum for a push back above a falling trend line established from the swing high in mid-August, a boundary that has acted as both a significant upside and downside barrier over the past six months. I will look for a daily close above this juncture as confirmation to seek long entry opportunities targeting the 1.0718-57 congestion region.