USD/CAD stays in a bearish trend since January. Pair is currently testing a trendline for the fourth time since then. Also, we are still close to resistance zone marked yellow.

Last H4 candle closed near its high, which is pretty bullish signal. But close distance of bearish trendline, resistance zone and 61,8 Fibonacci retracement makes bearish scenario more probable.

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But if bulls breaks through such resistance levels, it will be a good idea to buy USD/CAD because next stop is around 1,2990:


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