CAD will melt against the Dollar
The pattern exhibited by the pair foreshadows a coming important move upward. If my suspicion is correct. We will be seeing a revisit to the highs of March 2020 and if anything this move should widely exceed the upper bound set at the outset of the pandemic. As should be obvious this is a daily timeframe setup. As such it should and most likely will take some time to play out. Patience in such cases is key, as it usually tends to be in this business. The ultimate invalidation of this scenario comes if the price drops below the recently establish support at the 1.3225 level and we will need to reconsider how this can play out. Happy Trading :)
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