As we can see USDCAD managed to break the strong support level @1.3865 and price level could be seen below the falling wedge. As of now, I do not see much strong BEARISH strength taking over in fact more of a consolidation just outside the falling wedge. I could see price level moving back to the falling wedge with a potential good risk to reward for a long trade to 1.4275. However, we should also adapt to a possibility of it rejecting off the strong resistance level (previously strong support level). For now, I will go with it going back in trend, therefore a BULLISH trade for me , however at the same time watching any movement near the strong resistance level.
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