Potential Trend Reversal For UsdCad

On UsdCad, we could potentially be seeing a trend reversal in the works. Price was ranging around the monthly support level and finally broke out of it's bearish channel consolidation with a strong bullish candle closure. We seem to be testing a significant support level at the moment. If price could gain some bullish movement from this level, a buy position would not be a bad idea. I have an alert set to notify if bullish movement proceeds after this retest. We shall wait and see.